Gold Daily and Silver Weekly Charts - Now Thank We All Our God

"A proud man is seldom a grateful man, for he never thinks he gets as much as he deserves."

Henry Ward Beecher

 

The joyfulness of simplicity is a folly to the world, but the charism of a loving God to His people.

 

Gold and silver were both flat in lackluster trade today, as the US markets were simply going through the motions in holiday trade and ahead of a few real world events.

OPEC will be meeting this weekend to consider the dropping price of oil. It is clear that the Saudis are producing at a higher than usual manner, and as you may recall I have speculated that this is part of a ploy with the US to hamper Russia, but to also send a price gut check to the shale oil producing crowd.

The Swiss will be having their gold referendum on Sunday, 30 November and it will be interesting to see how that turns out.

And finally we are now switching to the December contract, and what may prove to be a more active month in the paper markets.

Have a pleasant weekend. See you Sunday evening.

 

 

 

SP 500 and NDX Futures Daily Charts - Miles Gloriosus

Stocks were drifting today in very light holiday trade, further dampened by foul weather in the NYC metro area.

The economic news this morning was quite poor, and lending some credence to the somewhat artificial nature of the GDP revision higher from earlier this week.

US markets will be effectively closed for the rest of the week, in observance of the Thanksgiving holiday.

Have a pleasant weekend.

 

 

 

Gold Daily and Silver Weekly Charts - Refreshing Resilience

Gold and silver held their prices well today with silver actually gaining some ground. Not bad for the day after a Comex option expiration.

This Friday the December contract becomes active on first notice, so we might see some changes in open interest.

Not much to report in the delivery category, but the Comex warehouse show the continued drip, drip of bullion out of their domains.

There is a nor'easter moving up the eastern seaboard now that will be arriving in the New York metropolitan area tomorrow morning.  It will be bring snow to the western and northern suburbs, which may dampen an already quiet trading day before the four day holiday weekend.

 

Goldman, HSBC, and BASF have been accused of rigging the price of platinum and palladium.  Gold and silver must be the only two global markets that haven't been rigged, if one is to believe that sort of thing.

 

But we know that they have been, and continue to be.  And that there will be consequences.

 

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts - Big Wheel Keep On Turning

The GDP estimate came in on the high side revision today showing what a marvelous recovery we are enjoying.

Too bad not much else is showing growth. Maybe this is one of those recoveries that is localized to the well-to-do.

The market is drifting higher on low volumes, and do not expect tomorrow to be much different 'unless something happens.

Have a pleasant evening.

 

 

 

 

 

 

Gold Daily and Silver Weekly Charts - Quiet Options Expiration on the Comex

Today was the last option expiration for 2014 Comex precious metal options.

Gold and silver were under slight pressure most of the day, but closed largely unchanged. Gold was down about five dollars while silver was up a penny.

Let's see how the trade winds down this week.

A nor'easter is expected to work its way up the east coast of the US this week. There is some uncertainly but we may be seeing a substantial winter storm in the New Jersey-New York-New England area on Wednesday, so I would expect the adults to leave on Tuesday for a long holiday weekend. The Wednesday before Thanksgiving is the biggest travel day of the year.

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts

Lack of hard economic data and a light holiday week trade had stocks drifting with an upward bias.

The second estimate of 3Q GDP will be given tomorrow.

The grand jury decision in the police shooting of Michael Brown should be released shortly.

Have a pleasant evening.