Gold and Silver Daily Charts

Gold

Gold Gains As Central Banks Stock Up - Financial Times

The Curse of Fiat Money - Thorsten Polleit



Silver

SP 500 September Futures Daily Chart

Breakout attempt failed at overhead resistance.

Today's action left a 'doji of indecision.

SP 500

Swiss Franc at US Dollar Parity

Swiss franc at US dollar parity and gold and silver soaring to new highs.

Risk off? At least some think so.

I wonder how long US equities can levitate in this environment.

Probably as long as the volumes remain thin and flashers can paint the tape.

If the shorts do not pile on in anticipation of a top we might see a nice dump into option expiration this Friday. Hard to say while the trade is so artificial.

Mom and pop are on vacation with the Griswolds in BondWalleyWorld. And that has the carnies edgy.



I must wait for confirmation from the BIS currency records which lag by six months, but it does appear that the recent dollar strength was attributable to another US dollar short squeezed caused by the further deterioration in the dollar denominated assets held by European banks and customer redemptions for currency.

Gold and Silver Daily Charts

Gold



Silver