Good afternoon pic
Gold ans silver both bounced after the crimex close. Neither fell below critical levels, gold bouncing off of $1105 and silver off of $17.20
Given the huge effort by the criminals in new york, I consider the price action today to be very constructive. We are moving up so fast, it would be better (if not a bit uncomfortable ) for the metals to retrace a bit.
I can imagine the current group of big buyers wanting the boyz to bring the price down periodically so as to get a better price. They are just risking a huge price more up or a lack of physical with which to settle long contracts.
I will get worried if we go up every day for a month without a correction. We have had only 1 weekly down close ( 30 Oct ) for gold since the 25 September close of $996. That is kind of scary and kind of fun at the same time. Sometimes it is hard to just look back and see that we have come a long way very fast. That is true for ECU ($.52 Can on 25 Sept ) as well as the metals.
