Comex PM prices are down a bit today after falling back yesterday from some overbought conditions and easily-identifiable resistance levels. The POSX has bounced a bit, too, which is driving some algo selling on a relatively light volume Thursday ahead of another BLSBS Friday.
That said, it appears that all of the tight physical conditions that have been driving the headlines and price over the past few weeks are persisting. Some gold is reportedly shaking loose in London and that is helping to calm the waters a bit but those extraordinarily high lease rates continue, which...
