"Bright star, would I were steadfast as thou art..."
John Keats
Despite the price takedown yesterday, the open interest drifted higher, taking the claims per ounce of deliverable gold to 62.9 to 1.
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot