Physical Gold and Silver in Trusts and Funds - Shanghai Gold Exchange Deliveries

Long Term Gold Daily Chart

To understand where you are going, it is useful to know where you have been.

What I am showing here is the very long consolidation and trading channel from which gold has broken out.

Stocks and Precious Metals Charts - Non-Farm Payrolls, Again - The Mythical Recovery

"There is no clean way to make a hundred million bucks. Somewhere along the line guys got pushed to the wall, nice little businesses got the ground cut out from under them. Decent people lost their jobs. Big money is big power, and big power gets used wrong. It's the system."

Raymond Chandler, The Long Goodbye


"I’ve seen it for years. I’ve seen a media, which has basically ignored the declining middle class, that doesn’t talk about poverty at all, and has no sense of what is going on in the minds of millions of ordinary Americans.  They live in a bubble, talk about their world, worry about who’s going to be running 18 years from now for office.  Meanwhile, people can’t feed their kids."

Bernie Sanders


"There is no trap so deadly as the trap you set for yourself.”

Raymond Chandler, The Long Goodbye

Most of the adults are on a long holiday weekend, so the trading was light, and fairly predictable.

And the weather here is just steamy!

Gold and silver and stocks were all smacked down hard by a stronger than anticipated Non-Farm Payrolls Report.

All recovered somewhat into the close.

All in all it proved to be a decent opportunity to replensih the short term gold positions that I sold into that last try at 1440. Not all. Now is not the time to have no longs in gold. Or too many longs in equities.

The charts seem somewhat straightforward.

I am concerned a bit about the future, and the failure to achieve a sustain recovery and meaningful reform.

The elite continue to pursue their unjust privileges, and deny their felonies and insults to justice and office with a comfortable pride and smug, habitual deception.

Although this is nothing new, we have not seen the magnitude of this sort of reckless greed in over a hundred years.

"The US labor force has actually contracted by more than 600,000 workers this year via Bloomberg opinion. Household Survey jobs down this year by almost 200,000, while twice as many who were earlier unemployed have given up looking for jobs. Every time the Fed has embarked upon a rate cutting campaign on average you get about 23 and a half basis points of cuts per month…which suggests the markets pricing in 3 to 4 rate cuts in the next 12 mos might not be aggressive enough.  Another piece of the puzzle...multiple job holders...why doesn’t MSM at the very least try to give people a real sense of where this economy is...these jobs numbers are so misleading."

Danielle DiMartino Booth

I am watching The Big Sleep, the later version with Robert Mitchum and Joan Collins. I am going to watch the classic with Bogart and Bacall later on this evening.

Need little, want less, love more.

Have a pleasant weekend.

Stocks and Precious Metal Charts - Wild, Wild Life

“Some madness doesn't act mad to begin with, sometimes it will knock politely at the door, and when you let it in, it'll simply sit in the corner without a fuss — and grow.”

Nathan Filer


"And this is the judgement, that the light has come into the world, and people love the darkness rather than light, because their deeds are evil."

John 3:19


"The ultimate purpose of crime is to establish an endless empire.  It seeks a state of complete insecurity and anarchy, founded upon the tainted ideals of a world thought doomed to annihilation.

When humanity, subjugated by the terror of crime, has been driven mad by fear and horror, and when chaos has become the supreme law, then the time for the empire of lawlessness will have come."

Friedrich Rudolf Klein-Rogge, Das Testament des Dr. Mabuse


"At that time many will turn away from the faith, and will betray and hate each other.  And false prophets will appear, and deceive many.  And because of the increase in wickedness, the love of most will grow cold.  But those who stand firm to the end will be saved. And the gospel of the kingdom will be preached throughout the whole world, as a testimony to all nations.  And then the end will come."

Matthew 24:10-14

The overnight action in the Globex gold market was wild once again, to say the least.

After the close gold started rising again, after an amazing rally from the smackdown the day before.

At one point gold was threatening to break through the 1440 level. Silver was following.

But today it managed to finished unchanged, around the 1417 mark.

This is the second night in which we have seen these violent swings in a commodity that has been held in check for a few years now.

Things are not what they seem.

Stocks managed to close out on highs in a holiday shortened trading session.

The US markets will be closed tomorrow in observance of the 4th of July.

The rest of the world will have to carry on without the guidance of Wall Street.

See you on Friday.

Have a pleasant evening.