Net Asset Value Premiums of Certain Precious Metal Trusts and Funds - Selling On Fear

Goldman Says to Short Gold

If Goldman said it would be sunny and clear I would wear boots and bring an umbrella.

Cyprus Forced To Sell Gold As Part of Bail In

The rape of Cyprus continues.

CBC: The Secret World of Gold

I have bought selectively here with an eye to cash flows and dividends, with a long timeframe. 

There is increasing anecdotal evidence of shortages of bullion on the periphery.

Michael Hudson on the Thatcher Legacy

I have avoided the subject, but I thought Mike Hudson's review of Thatcher's economic impact to be interesting.

Gold Daily and Silver Weekly Charts - Metals Rally Along With Equities and Miners Outperform

The recently acquired miners, particularly in silver and the better pedigreed gold producers, provided a welcome change of pace today.

I was a little bothered that the metals rallied with stocks, but that they were oversold was unmistakable.

So what next? I bought a little more volatility to go along with the metals holdings as I think we are far from clear of the current troubles. I trimmed a little off the miners today, as one ought never to look at a gift horse in the mouth, and am holding what I would like to see become a 'core' of holdings for quite some time.

Let's see what the FOMC minutes bring tomorrow afternoon, and how the markets in Asia and Europe do overnight.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Obsessive Compulsive Complacency

Not much in the way of economic news today, and stocks tried to rally up on technicals but failed at the big resistance around 1565 to 1570 which as you know is our intermediate target.

Tomorrow we get the Fed's FOMC minutes at 2 PM, and additionally its now going to be all about earnings and the employment numbers. It will be interesting to see what we get in new claims for unemployment on Wednesday and how the markets react to this.

IF the markets cannot take out 1570 and hold it I suspect they will fall back and try to consolidate in some likely area, as one might easily see on the charts.