03 February 2012

Gold Daily and Silver Weekly Charts

Bear raid on the metals intraday, with the message that piling into 'risk assets' like stocks and junk bonds was the thing to do because of the wonderful economic recovery.

Nothing has changed. The band just played a lively polka, and Josef and Magda led a cheer on the financial networks.

Keep an eye on Europe. That is where the rubber meets the road, or the truncheon meets the jaw, as they say.

Can the triple A's bring Greece and the other prodigals under control? Will they submit as meekly as the Irish? Stay tuned.