Another Opex Friday

It's another Friday where the gold price rose all night long, through Asian and London trading, only to be immediately driven back lower in New York as the POSX rallies and "the market" once again prepares itself for NYSE option expirations.

Deja vu all over again, as the great Yogi Berra once said. This will be the third, consecutive NYSE option expiration day where the gold price was looking higher pre-open, only to be driven lower before and during the NYSE session, thereby placing a great number of calls on the GLD and SLV out of the money by expiration at the 4:00 ET NYSE...

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Key Economic Events Week of 5/28

5/28 9:00 ET Case-Shiller home prices
5/28 10:00 ET Goon Kash-n-kari
5/28 10:00 ET Consumer Confidence
5/28 1:00 ET Goons Cook and Daly
5/29 1:45 ET Goon Williams
5/29 2:00 ET Beige Book
5/30 8:30 ET Jobless claims
5/30 8:30 ET Q1 GDP 2nd guess
5/30 8:30 ET Wholesale inventories
5/30 10:00 ET Pending home sales
5/30 12:00 ET Goon Williams again
5/31 8:30 ET PCE and Core PCE
5/31 8:30 ET Personal Inc and Spend
5/31 9:45 ET Chicago PMI

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