27 June 2014

Gold Daily and Silver Weekly Charts - Non-Farm Payrolls Next Week

Over 300,000 ounces of gold were stopped in contracts for the month on the Comex. But as you can see from the warehouse reports, it really did not go anywhere. The Comex is like a Tussauds Wax Museum tableau of what a market looks like.

Non-Farm payrolls will be coming next Thursday as Friday is a national holiday in the States.

I include a weekly chart of SLW just to show the nicely formed symmetrical triangle formation. It is a bit neater than the weekly silver chart itself. July is an active month for silver, so let's see if we get any resolutions in what is likely to be a quiet trading week.

If we get any significant chart activity I will explicate it more fully then.  Otherwise the games look like they will continue, until they can no longer do so.
Have a pleasant weekend everyone.