Gold Daily and Silver Weekly Charts - J'attendrai

Gold and silver held steady at key resistance today, unable to move higher, but refusing to go lower.

There was very little delivery activity at The Bucket Shop yesterday, with the three bullion banks shoving some gold bullion around the plate in their house accounts again.  JPM picked up a little.

Other than that, the Comex is 'quiet' to put it charitably, with a little more silver leaking out through the seams.

And so I am waiting. I seem to be getting very good at it, waiting patiently. I have been waiting since yesterday for a phone call giving the latest test results from a PET scan last Wednesday. I probably have done this sort of thing about a dozen times now over the past four years. Waiting for someone else's tests, someone whose fear and pain strikes to your heart, seems worse than waiting for your own.

So as for gold and silver, waiting for them to do something is relatively easy. Bring it, you cartel clowns. Gold is flowing from West to East. And we are waiting for you, with a deepening resolve.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Going Nowhere Man

Stocks were struggling to go green (again) all day.

After the bell Yahoo missed earnings and revenues and Chipotle was not looking robust either, especially with a miss on the bottom line.

I am mostly in cash here with a light short position, waiting to see if stocks can move higher or will start rolling over. They seem overvalued here, especially in light of a slowing US and global economy.

Have a pleasant evening.

NAV Premiums of Certain Precious Metal Trusts and Funds

Sprott silver appears to be temporarily out of cash for current expenses.

Typically they have been selling off a little bullion in order to raise funds, since their premiums do not allow for secondary offerings under their current arrangements.

At at the bottom, central bankers extraordinaire Stanley and Janet take a QE Victory Tour by auto through the Swiss Alps, with Mario Draghi at the wheel.