Loading ...Maddog – that would make sense that the swings would get wilder as the price increased, unfortunately it would probably be the case at a top as well. I don’t necessarily think we’re topping here, but I don’t get the warm and fuzzies that we’ll snap right back either. One thing never changes with pm’s, the moves down ALWAYS dwarf the moves up. Wherever we land may take a little while to recover from. You called it with the shares, they are capped and not responding to any swings. Maybe there will be some short covering in the last hour.
Mr. Copper – I’ve thought the same with Palladium. I don’t think that can happen with gold because the central banks have been doing most of the buying. Silver is tough. If somehow, they get the supply problem fixed (or the appearance it’s fixed), I could see them dismantling silver all the way back to $30. They’ve done it time and time again.
At least we’ve relieved the overbought condition. 🙂