Gold Daily and Silver Weekly Charts – Check, Check, Check

Jon Blogosphere, Gold, Market Commentary, Precious Metals, Silver

Nyet! Nyet! No More! No! Not tonight! This son of bitch, all night he, ‘Check. Check. Check.’
Teddy KGB, Rounders
Gold and silver largely marked time in place today, after the regular and rigorous pounding that they took for the last fifteen days or so, depending on how you wish to count the start of it.
The dollar seems very toppy and overbought at this point, and I have included its chart below as well.
It is a fallacy to say that the metals are declining because the dollar is moving higher. Sometimes the metals and the dollar move inversely and sometimes they move together. In this case they are clearly moving in opposite directions.
There were no deliveries to standing contracts in The Bucket Shop yesterday. And the action in the metals warehouses was more of the usual ‘weak leak’ that seems to be the order of the day, at least this month.
We are seeing the kind of clumsy, puerile commentary about ‘gold being stoopid’ from the porcine auxiliary that often appears when there is a kind of bottom developing here.
Or not. When the dealer and the house are dealing from the bottom it is hard to predict what will happen next.

This post was published at Jesses Crossroads Cafe on 10 NOVEMBER 2015.