27 August 2013

Gold Daily and Silver Weekly Charts - Gimme Shelter

"The great enemy of clear language is insincerity. When there is a gap between one's real and one's declared aims, one turns as it were instinctively to long words and exhausted idioms, like a cuttlefish spurting out ink."

George Orwell

There was a very obvious flight to safety in gold and silver today, although the bears were able to contain the gold run below the 1420 neckline and silver below 25 breakout for the option expiration on the COMEX today.

Stocks and the metals ignored the economic news, the 'better than expected' consumer confidence, and were focusing on war news.  Anyone who missed this must not have been watching the tape very closely.

And be sure not to miss the one chart about gold that you must be sure to remember.

Let's see what the inventory numbers look like tonight and for the rest of the week.