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Gold Daily and Silver Weekly Charts – A Simple Lack of Character
jessescrossroadscafe.blogspot.com / 25 SEPTEMBER 2015
“It was miraculous. It was almost no trick at all, he saw, to turn vice into virtue, and slander into truth, impotence into abstinence, arrogance into humility, plunder into philanthropy, thievery into honor, blasphemy into wisdom, brutality into patriotism, and sadism into justice.
Anybody could do it; it required no brains at all. It merely required no character.”
Joseph Heller, Catch 22
Heller might have been writing about our own day, and much of the analysis and ‘expert commentary’ on the economy and the markets. This is how it is in times of moral hazard, and general shamelessness among the worst.
Gold and silver drifted slightly lower in a quiet trade today.
There was intraday commentary taking note of Koos Jansen’s latest analysis of Asian demand, and more specifically the buying habits of the People’s Bank of China, and the London Gold market which you may read here.
As I have noted several times previously, October is a relative sideshow as compared to both the volume and open interest of the big month of December. But it does offer a chance for the parasitic class to play their paper games. If it had been a more active contract one might have expected a little more of a ‘gut check’ today for the contract holders. So I am still reluctant to read too much into the big rally yesterday and the slight retrenchment today and into the weekend.
Here are the volume and changes in open interest from yesterday in the first graph below. As you can see from the circled number on the right, the open interest for the coming month of December is 293,901 representing about 29,390,100 ounces of potential paper gold claims.
The post Gold Daily and Silver Weekly Charts – A Simple Lack of Character appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/09/25/gold-daily-and-silver-weekly-charts-a-simple-lack-of-character/
