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Gold Daily and Silver Weekly Charts

IMG Auteur
Jesse
Le Cafe Americain
Published : June 22nd, 2013
135 words - Reading time : less than a minute
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Category : GoldWire

Unless markets collapse over all in a rush to liquidity I think gold and silver are both oversold short term and will likely find a footing here.

Next week is an option expiration for gold and silver on the COMEX.

I am waiting to see how the physical selling numbers come in. That is the most important thing to me as we work through a delivery period with short supplies.

In my mind this sell off was a just another paper based phenomenon enabled by slack regulation by the CFTC.

I would feel more confident if the metals can break up through their 50 day moving averages.

Today on Bloomberg Mr. Laszlo Birinyi said that 'gold is our biggest short.'  

I hear the commercial hedgers are near record lows on shorts.  

Let's see what happens.
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sparrow   6/23/2013 at 2:43 PM GMT
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How can you take the averages of the 200 day and other averages seriously, when the market is Manipulated with Paper Gold? when someone can put 400 tons of paper gold in the market in one day? The CFTC does not enforce it's own rules? The rule of law is not in Play. It's like the Banksters can Naked Short with no consequences. So all of this Technical Anallese carry no weight.
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How can you take the averages of the 200 day and other averages seriously, when the market is Manipulated with Paper Gold? when someone can put 400 tons of paper gold in the market in one day? The CFTC does not enforce it's own rules? The rule of law is  Read more
sparrow - 6/23/2013 at 2:43 PM GMT
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