28 February 2014

Gold Daily and Silver Weekly Charts - Last Call for February - Ukraine

Gold and silver were under modest pressure much of the day as the February delivery period rolled into the sunset.

Stocks slumped and gold jumped this afternoon when news broke that Russia 'had invaded' the Ukraine.  President Obama will be speaking on this subject at 4:45 PM today.

The Comex warehouse report shows a little offtake. We'll have to see if there is any more listed next week.  We will see what happened to warehouse metals today on next Monday.

The pullback alleviated a short term overbought condition on the charts, and did no technical damage to any formations.

March is a very light month for futures activity. The focus now shifts to the physical markets, primarily in Asia, and to April.

Another winter storm, this one called Titan, will be sweeping across the northeastern US on Monday morning. 

Have a pleasant weekend.