05 March 2015

Gold Daily and Silver Weekly Charts - Walkabout

"The world is ours, we are its lords, and ours it shall remain. As for the host of labor, it has been in the dirt since history began, and I read history aright. And in the dirt it shall remain so long as I and mine and those that come after us have the power.

There is the word. It is the king of words—Power. Not God, not Mammon, but Power. Pour it over your tongue till it tingles with it. Power.”

Jack London, The Iron Heel

At the devil's booth are all things sold. Each ounce of dross, costs its ounce of gold.

James Russell Lowell

 The price action in dross was the usual thing for the bucket shop today.
One thing that was a bit surprising is that a good chunk of the Comex deliverable gold went walkabout.    Where it went, I am sure no one can say.  
Considering that this is an inactive month, and the gold clearing report continues to be a snoratorium, the big withdrawal of 114,790 ounces of gold out of Scotia Mocatta was a bit of a surprise.
There was a lesser withdrawal of 3,890 ounces from HSBC.
Silver had the usual ins and outs.
Non-Farm Payrolls tomorrow.
Have a pleasant evening.