Gold Daily and Silver Weekly Charts – Straining

“The first item on my agenda would be to restore democracy to the United States of America by overturning this disastrous Citizens UnitedSupreme Court decision.
Why do I put that issue first? Why not health care, why not jobs? Because if you end up with a Congress or with governors or legislatures who are beholden to the billionaire class, we are never going to make progress on any issue that impacts working families.
And in my very strong opinion – and I speak to you as chairman of the veterans committee in the Senate – I do not believe that people fought and died for democracy so that billionaires can buy elections.’
Bernie Sanders
A number of people have remarked upon the ballooning open interest in the silver market on the Comex. When the number of open contracts goes higher on a down movement in price, that is more indicative of short selling than of longs selling their contracts and closing them out, obviously. I also hear that there was a remarkably large expansion in the inventory of SLV the other day, causing some of wonder at the source of all that silver.

This post was published at Jesses Crossroads Cafe on 16 SEPTEMBER 2014.