25 July 2013

Gold Daily and Silver Weekly Charts - Here Comes the Judge


There is intraday commentary on the subject of gold backwardation here.

You may read it, but to summarize it in twenty five words or less, 'If the problem is a shortage of physical supply, about the last place you would go to resolve it would be the COMEX futures.'

I also wrote a short piece that in retrospect went three times longer than necessary wherein I talk around some of the goofier comments I have seen about the precious metals markets lately in the mainstream media.

Today was fairly quiet for an option expiration, even with the overnight head fake of a bear raid.  Let's see how the holders of new contracts and short positions fare tomorrow and on Monday. 

Remember that next week begins the August delivery period.

Stand and deliver.