Loading ...Colour me stunned….Not.
Maddog, R640
This all looks pretty normal
USD drifting lower, gold flat, silver up a few cents
SM futures ripping higher
Morning R640
They painted a daily reversal in Au ystdy and in the Eur/usd, Jpy and Dollar index…so we may be in, as u say for a correction here….we have had a $120 run in AU and what better time to stamp on it, than while out in Davos.
What’s the heck!? I just checked JNUG-NUGT-& SLV–the are all sporting 2%-3% gains…although on light volume…
No other market trades like PMs…no wonder so few get on board for rallies…the day should be interesting…
The new upper limit?
i’s 6:15 am…so that’s the deal, eh? The $ index is down .537…but no matter…the Govvie has ordered the G&S rally to be nipped in the bud…gold’s down $10 and silver’s down 17…so at least we know where we stand and what we’re dealing with…
I am not surprised…for years now, the rare days with big gains, like Wednesday, have always marked some kind of top…the so-called “big days”-like the $25 gain on Wednesday…are becoming “less big”…I remember back in about 2004 or 2005 we had a day with gold up $90—the next day, early on, there was another 10 or 15 buck gain…then gold dropped like a rock and ended the day down 20 or 30…that was a significant top.
The day gold was up $90 had no significant news or catalyst…There have been very few days in the past 8 years when gold had a 30-40-50 buck gain…so Wednesdays’ $25 gain looks to be the new upper limit…I hope I’m wrong.
Silver Train
Our private silver parlor, the “Silver Solarium” rides the California Zephyr… just as it ever was.
http://www.railpictures.net/photo/645700/