10 August 2016

Gold Daily and Silver Weekly Charts - Up On Falling Dollar Early, Hit in the NY Trade

"In an age where everything is for sale, ethical accountability is rendered a liability, and the vocabulary of empathy is viewed as a weakness, reinforced by the view that individual happiness and its endless search for instant gratification is more important than supporting the public good and embracing an obligation to care for others.

Americans are now pitted against each other as neo-liberalism puts a premium on competitive cage-like relations that degrade collaboration and the public spheres that support it."

Henry Giroux

Gold and silver were rallying early, breaching 1350 and moving higher, on a weaker dollar and a 'risk off' reaction to the latest round of buying of financial paper.

However, gold was hit in the NY trade, and recovered only some of that, but still closing higher around 1347 with silver hanging another close over 20.

The chart formations remain highly positive for both gold and silver, but the needed breakout continues to elude.

The Royal Bank of New Zealand will be looking at a cut in their interest rates later tonight our time.

Let's see what tomorrow brings.

The warehouses were quiet.  Gold 'deliveries' continue brisk for August, on paper at least.

Have a pleasant evening.