Gold Daily And Silver Weekly Charts - Here Comes April

"It was possible, no doubt, to imagine a society in which wealth, in the sense of personal possessions and luxuries, should be evenly distributed, while power remained in the hands of a small privileged caste.

But in practice such a society could not remain stable. For if leisure and security were enjoyed by all alike, the great mass of human beings who are normally stupified by poverty would become literate and would learn to think for themselves; and when once they had done this, they would sooner or later realise that the privileged minority had no function, and they would sweep it away.

In the long run, a hierarchical society was only possible on a basis of poverty and ignorance."

George Orwell, 1984

Gold stabilized today, and silver showed a little resilience.

There was the usual in and out of the Comex gold warehouses yesterday, which are preparing for the April active delivery month.

And I would be remiss if I did not remind you that with the end of the month comes a new Non-Farm Payrolls report next week.

There was intraday commentary and an interview with Jim Rickards on gold manipulation today that you might wish to have a look at here.

I see where the IMF is already putting the Ukraine on the loans and austerity treadmill.  (cf. Greece)

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts

"Woe to those who call evil good and good evil, who substitute darkness for light and light for darkness, who call bitter for sweet, and sweetness for bitter."

Monday is the end of the first quarter, and the end of March. The paint may not yet be dry on the tape.

The economic calendar has more interesting tidbits next week, and so that may drive some of the action after the end of quarter rituals.

Have a pleasant weekend.

Jim Rickards: Study Will Show That Gold Is Being Manipulated on the Comex (Again)

"If I were running the manipulation I would be embarrassed at this point, it is so blatant...The regulators have been asleep at the switch."

Jim Rickards

As an aside, and in case you wondered, I do not take Rickards at face value. I sift what he says, carefully. And that is enough said about that, except that it is good advice in general especially when it comes to money and investments.

No one listens because the US regulators don't want to see it,  Wall Street traders make money off it, the mainstream media ignores it, and the shills deride anyone who brings it up. So I do not expect anything to come out of this latest version of a study that I have seen several times before, unless it is somehow associated with more undeniable smoking gun evidence uncovered through the London Fix investigation, and a 'limited hangout' operation. But I can doubt that as well, because it requires too much self-awareness for the masters of the universe.

The real smoking gun will more likely be tied to be an unanticipated default somewhere in the system.  And then people will ask, 'how did we not see this coming?'  And the hunt for a scapegoat or patsy will be underway. God will not forgive us if we once again allow some of the old and shameful persecutions of the weak and innocent and the other to carry that burden of guilt yet again.

The public will be trimmed and skinned in yet another bailout, or should I say 'bail-in,' to replace what had been rehypothecated. Possession will be nine-tenths of the law. And the big crooks will throw the shills, stooges, and the little crooks to the mob, without a second thought.

It is different this time, because we are different. It can't happen here. The most delusional words ever spoken.

Gold Daily and Silver Weekly Charts - Roll Over Beethoven

There was intraday commentary on the gold market and in particular the April delivery month here.

We are crossing over into the April delivery month, and I think the price and volume action reflect that reality. Especially with regard to the relatively high number of potential contracts that are still in a position to stand for physical delivery.

More gold came into JPM eligible storage yesterday.   I'll have to take another look at the ETF inventories in the next couple of days.  Has anyone seen the Ukraine's national hoard?   lol.

Let's see how the next two or three days go.   I expect this will settle out by the end of the first two delivery weeks.

As you might have expected Ben Bernanke is no cheap 'intimate dinner' date. I hope they at least give him cab fare with the check.

Spring is in the air.  Have a pleasant evening.