Only gold and silver are in the bombing zone today. The USD IS ACTUALLY DOWN AND PM SHARE INDEXES DOWN A BIT UNDER 2%.
After the most bullish event EVER for gold & silver [G&S] yesterday with some $81 BILLION bond magic to be created EACH MONTH OUT OF THIN AIR [INDEFINITELY] ...well, gold was capped yesterday..and both G&S bombed last night and this morning.
I do have a computer in my bunker, and saw something I have NEVER seen in 40 years...a $.30 drop in silver in TEN SECONDS! Can you imagine the upsde speed potential when this mess unravels! So with G&S moving back up somewhat from lows, here is a look at G&S lows since those key early November lows
Early Nov....$1674 & $30.80 [20-24 week cycle low?]
Mid Nov......$1704 & $32.00
Last week..$1684 & $32.50
Today.........$1690 & $32.28 [gold held well above last week's low]
So, this massive raid has failed to take out the early Nov lows, and gold is well above last week's low.
Silver was on the wrong side of the hedge trade today. Any .30 drop in 10 seconds aint normal, and smacks of open and desparate stuff.
There are again no predictions here, just some stuff to look over and for.
If gold can get back comfortably above $1700 and silver back above $33 this week, it keeps the 20-24 week cycle in effect with us now in week 5 or 6.
AUM seems to have its own schedule, and a pause today rather than a big retrace would be very bullish. We all know that Dec. is tricky with tax selling stuff, but Helicopter Ben sealed the deal yesterday. Smoke and mirrors only hide and reflect G&S destiny...hope this helps.....pic
