Wednesday, steady as she goes for gold…
Not sure what to title the post, to be frank. I’ve not looked at news items yet today.
Though I’ve been tracking gold and silver and platinum action with ExactPrice on the desktop here as I take care of eMails and other work this morning. Gold took it on the chin the moment COMEX opened. Someone hit a sell button wand down she went. The price has been hovering now are around the $1,790 area. Silver has fared better and is actually positive for the day so far. We’ll see it that holds.
Now, let me see what I can dig up news wise.
“The government’s total indebtedness — its fiscal gap — now stands at $211 trillion, by my arithmetic. The fiscal gap is the difference, measured in present value, between all projected future spending obligations — including our huge defense expenditures and massive entitlement programs, as well as making interest and principal payments on the official debt — and all projected future taxes.”
GATA: “As Gold Price Suppression Grows More Brazen, Maybe Asia Will Defeat It” <- fitting for a day like today I think.
Ed Steer’s Gold and Silver Daily: <- The Central Bank of Russia continues their addition to their gold reserves. Also, be sure to see the charts that follow this one.
Commentary: Compare gold and 1990s dot-com bubble <- good read.
“As soon as China closes trading each day, that is when the selling starts in the paper markets. These raids on the price are designed to get weaker players flushed out of the futures markets so they (commercials) can cover some of their short positions.”
Lear Capital: Is Gold Rally Losing Steam or Building Pressure? <- I’ll take door number two.
Front-running The Bernank <- TFerguson looks at some interesting dealings.