04 November 2013

Gold Daily and Silver Weekly Charts - Ship of Fools

"No offense to those mad geniuses of Greece,
But wisdom is never perfect here below;
Folly is found in every age we know,
Even careful fools differ, but only in their ebb and flow."

Nicolas Boileau-Despreaux, Satires
tr. by Jesse

There was very little activity in the Comex warehouses on Friday as about 16 bullion bars left the Scotia Mocatta customer category.

HSBC has been added to the firms that are being investigated for the rigging in the foreign exchange markets.

Isn't it wonderful how just about every market has been found to be subject to clumsy rigging by the banks, EXCEPT the gold and silver markets?

Gold and silver were capped most of the day, for the usual reasons no doubt.

The gold in particular continues to flow from West to East. How long can it last?   One thing is almost certain, that this will not end well.

Have a pleasant evening.