Gold Daily and Silver Weekly Charts - Flight to Safety, the Cup's Rim Is In

Gold spiked higher towards $1200 today on market troubles and a weaker dollar I might add.

It seems like the currency war is going through one of its hot spells.

Silver even managed to chalk up a decent gain, and is forming a little 'bowl' formation of its own on the weekly chart no less.

Gold is now quite technically overbought in the short term.  Let's see if we get a retracement or some other sort of action.  In the short term anything is possible.

I know I am not saying so much this year.  Perhaps that is just because the time for talking, for letting people know what was going on, was last year's business.

If you have listened to what the markets have been saying, if you have seen things with open eyes, then you ought to be mostly set, as best as you can.

And if you did not listen then, and kept running to see what the trolls and apologists were saying, looking for diversion and excitement, why would you listen to anything of substance now?   You will always find an excuse, always do what you have been doing all along, until you cannot.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Banking Troubles Worry Stocks

US equities hits new lows today, but managed to bounce back on some technical dip buying and short covering in the afternoon.

If they are going to put in a bottom, there are going to need some help from Europe where the bank stocks in particular look like they have been run through a threshing machine, several times.

Deutsche Bank is appearing very troubled, and Barclays trading was halted for a time today.

Have a pleasant evening.

Shanghai Gold Exchange Withdrawals For January 2016 Total 225.8 Tonnes

Shanghai Gold Exchange has decided to publish their gold withdrawal figures on a monthly basis rather than weekly.

For January 2016 there were 225.8 tonnes withdrawn from the exchange.