Key Comex Dates for Gold and Silver To Year End and Updated 'Shadow Gold Chart'

In addition to the end of quarter mark to market boogie woogie, which I think is responsible for quite a bit of the stock market action, there are also a few key things happening in the gold and silver futures markets this week that also provide the occasion for some 'technical trading.'

Harvey Organ reminds us that the metals often get 'hit' as an active month rolls over, to discourage speculators from taking delivery on their contracts.  This is often marked by the 'first notice day.'

In the short term the markets are a bit treacherous because of the lack of enforcement of the basic rules that govern healthy markets.  In the longer term these things tend to become just noise.

Pick whatever time frames you wish, but know the character of the markets in which you choose to participate.

Also bear in mind that during times of excessive market speculation because of hot money and lax regulation, information sources are often used and even co-opted to help to shape 'perceptions.'

This may even be unconscious if the information provider does not view certain stories that are offered at certain times with a skeptical eye. A little truth broadly embellished and assigned is the most reliable sort of lie.

Sept. 26 Comex October miNY gold futures last trading day
Sept. 26 Comex September silver futures last trading day
Sept. 27 Comex October gold options expiry
Sept. 28 Comex September gold futures last trading day
Sept. 28 Comex October E-mini gold futures last trading day
Sept. 28 Comex October gold futures first notice day
Oct. 27 Comex November E-mini silver futures last trading day
Oct. 27 Comex October silver futures last trading day
Oct. 27 Comex November E-mini gold futures last trading day
Oct. 29 Comex October gold futures last trading day
Nov. 27 Comex December gold options expiry
Nov. 27 Comex December silver options expiry
Nov. 28 Comex December miNY gold futures last trading day
Nov. 28 Comex December miNY silver futures last trading day
Nov. 30 Comex December gold futures first notice day
Nov. 30 Comex December silver futures first notice day
Dec. 27 Comex December gold futures last trading day
Dec. 27 Comex December silver futures last trading day
Dec. 27 Comex December E-micro gold futures last trading day
Dec. 31 Comex January 2013 silver futures first notice day

The formation will not be valid until the previous high is exceeded and there is a clear breakout, or a handle is set for a 'cup and handle.'

Intraday Trends In Gold and Silver: Five Year Rolling Average

These charts are from my friend Nick Laird.

The lesson seems to be 'buy post London fix' and 'sell before the London AM fix.'

Or just ignore the intraday wiggles if you do not have the time and inclination to trade, and wait for this cynical, hypocritical, and criminally fraudulent market centered in NY and London to tear itself apart.

Gold Daily and Silver Weekly Charts - Slouching Into the End of Quarter

The metals were hit today along with stocks. Stocks were hit because of the lousy economic indications from companies, and the sour words from the Philly Fed's Charley Plosser (see the post below this).

Gold and silver were hit pretty much on a matter of principle I think. The principle is that this is the end of quarter, and so we will see selling today and maybe a little tomorrow as the funds hit they bow-wows and raise some cash for the end of week ramp-o-rama.

The metals may not participate since the Big Shorts need some help on their mark to market losses. And their guiding principle is 'do what thou wilt' with Other People's Money.

Let's see how this plays out.