SP 500 and NDX Futures Daily Charts - Non-Farm Payrolls Tomorrow

Tomorrow is the Big Jobs Day.

I am sure that The Recovery™ proceeds, at least for some.

Yves had a good piece on the labor situation in the US.  I like her work quite a bit and always take the time to hear what she has to say.

As for tomorrow, let's see what happens.  Your guess is as good as mine.

Have a pleasant evening.

 

61 Tonnes of Gold Bullion Flow Out of Western ETFs and Exchanges In January 2014

“Gold is a possession and not a promise.”

William Rees-Mogg, The Times 12 Dec 1979

Here is the data for gold bullion outflows from ETFs and Exchanges in January of this year.

As you can see, it is a more general phenomenon than some have implied in their remarks about the Sprott redemptions and its discount to NAV the other day.

And this was in a month of generally rising prices for gold. 

So the trend continues.  There were 942 Tonnes that left the Western repositories in 2013. 

Gold is moving from West to East.  What does it mean?

And what is left is all that prowling paper, empty of value, looking for more wealth to devour.

The bankers' boys say not to worry.  But do not ask to see what remains behind the central banks doors.

Trust, and believe, for the good of the system. Our system, the one that keeps us rich.

If you open your eyes, you'll spoil everything.

Dead bankers and hollowed vaults.

Such goings on.  My, my, my.

Gold Daily and Silver Weekly Charts - Cap Cap, Gold, But Pop Goes Silver

An Erosion of Confidence

Precious metal prices jumped as stock prices took a dive this morning, but both were shoved back closer to 'the norm' by the end of the day.

Silver held up most of its gains, pushing up against resistance at 20. Gold is bumping its head rather hard against 1260.

The bullion boys were adjusting storage for delivery today, taking the total amount of deliverable ounces back up to the 496,000 level.   There was a little anomaly at Brink's that I have highlighted in blue, whereby about 523 ounces appeared courtesy of the adjustment fairies.  A drop in the bucket, as overall 56,306 ounces of bullion were warranted to the registered stash.

The goal is obviously to muddle through the February delivery period, looking for the calmer waters of non-active March.  As for the big sucking sound of bullion flowing from West to East, that can will be kicked down the road, until the road falls off el cliffo, apparently.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Prop Job

Equities looked like they were going to fall off the ledge today, but light selling met determined propping.

Non-farm payrolls at the end of the week.

The VIX remains rather elevated, so I would not say that stocks are in the clear yet.

Twitter and Pandora are getting spanked after hours, earnings report wise.

I own no equities now, and have assumed a very defensive investment position, but no short positions.