…both dropping like bill clinton’s boxers in an arkansas trailer park
maddog – concur
GDX making a 2nd attempt to bust the 50 day. Gold is going to need to help at some point.
I think we have a real battle today……the buyers are not letting up…nor are the sellers.
Early break outs from under major trend lines
GDX approaching the 50 dma
first point of contention.
maddog – thx
I see the 9 am EST seller has come in to do his thing. They don’t want anyone coming into the pm sector, period.
Hopefully though, with the buying going on in the other metals, they’ll overwhelm the shorts. I don’t know, hard to bank on that happening.
Oil now has a $77 handle.
maddog,
looks like similar pattern in silver. somebody/something is trying to stop it shy of $ixty.
Buygold
That diff between Plat and Gold tells me the shorts are adding in AU.
buygold
Re Swiss…there really is no currency to rival Gold anymore, the Deutsche Mark was there once, but the Euro is a sick joke and even the Swissy can’t manage it now…..no wonder CB’s are buying…..
It looks to me there is monster buying sub 4 K and a load of shorts, who are finding it v hard to get it any lower, despite selling every rally and now I see someone has lit a fire under Plat and to lesser extent Palladium…..plus shares are now catching bids, as people wake up to what a bargain they are.
Platinum up $73 or 4.4%, oil now down, dollar too, rates back to flat
Palladium up $38 – 4%
SM futures powering up.
Gold up 0.2%
Impressive.
Morning maddog – thanks for a recap on the Swiss
sounds like it is no longer significant at least as gold is concerned. All these currencies seem close to a reckoning; I just wonder who will push the world, if anyone, toward a system backed by commodities.
The usual next day action for pm’s, going nowhere fast. Silver looked like it had some potential overnight, but has done the usual fade after the London open.
Dollar flat, rates up 2 bips, oil up a buck and change. Pick anyone and the pm correlation is down.
Course, the SM futures are on their way up again, because, why not?
