24 June 2013

Gold Daily and Silver Weekly Charts - Option Expiration Tomorrow on the Comex

For those of you who are familiar with George Orwell's 1984, the histrionics about the search for arch-villain and espionage agent Edward Snowden reminds one of the search for the mythical enemy of the state in that book, Emmanuel Goldstein.

I will be curious to see what the equity market does, and how gold and silver go forward into the last few days of this delivery period with the existing inventory levels near record lows. 

As you know, when registered gold inventory has gotten to these record lows, it has marked an intermediate trend change within a month or so.

Speaking of contrary indicators, Dennis Gartman came out today and made some grunting noises about those unfortunates who own gold.  Dennis should know unfortunate, given the awesomely awful performance of the Gartman ETF (HAG.TO) which earlier this year went 'tits up' as they used to say in WW II.

For your convenience I have included the Comex calendar for the futures and for options below.