07 October 2015

Gold Daily and Silver Weekly Charts - The Exceptional, Swirling the Drain

“The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.”

John Kenneth Galbraith, The Great Crash of 1929

Gold was a bit weak today, while silver was holding on to the 16 handle extremely well.

There were no deliveries at The Bucket Shop yesterday except in copper.

The bullion warehouses continue their slow bleed of inventory.

After the bell Deutsche Bank reported that it would be taking a $7 billion loss on writedowns.

The commentary on US financial television would make Diogenes smash his lamp, and compel even the stoics to weep in despair.

And these are the courtiers to the exceptional.

Have a pleasant evening.

h/t David Stockman