Gold and Silver take a pounding.
Well as noted yesterday, someone has it in for gold and silver. Looking at the graph in the Adobe Air widget, ExactPrice, today was like was looking at one of those cliffs I saw recently at the Grand Canyon. Here’s a vacation pic:
Okay, so this is far prettier than today’s action. But ask yourself: Has the USA’s (let alone global) economic situation improved any? Or how about this one: Has the debt disappeared or at least decreased?
Yeah. Well, consider this a pump in the road. It is summer after all and volatility is the general outlook in metals of late.
Moving on, here are some links worth considering.
This tweet from @lmgross:
Relax, It Has Always Been This Way – Trader Dan on Jim’s Sinclair’s MineSet.
Money Flows absent in the Commodity Complex – Trader Dan on his own site.
Gold – 8 Hour chart update – Trader Dan again. Worth reading his notes.
Silver plunge flirts with 20% bear market, “Gold Favored” as Mexico buys 93 tonnes – 93 Tonnes! That’s faith in the dollar 😉
Soros sells gold, silver investments: report – Because they don’t think deflation is a problem any longer? Really? Then what is?
Until next time.