This week's contest has officially ended and, once again, we have two winners! Out of 300+ entries, we actually had two Turdites pick the same number and they both were only off by 10 cents. The winners are....
"GDH" and "Two Gun Tobin"
Congratulations! When you have a moment, please send me an email with your mailing address and your authentic, Turd Ferguson autographed yellow foam hat will be put in the mail. (Provided I can get it mailed before the USPS declares bankruptcy.) Both predicted $1742.50 and the official Comex close for the Dec11 contract was $1742.60. Wow!
As expected and predicted here late yesterday, gold right down to support this morning, near 1725. The actual low came at about 10:45 EDT at 1725.80. Not too shabby. At about that point, a lot of folks seemed to realize they'd rather be long, not short, gold over the weekend. It has since rebounded about $20 and I have a Globex last of 1745. The only thing we didn't get today was a commensurate drop in silver, which is just fine with me. I thought it could briefly fall below 38 but it never did, having only made it to 38.22. It is now back up above $39 as I type and is ready for a very important and pivotal Monday and Tuesday. See below.
I'll spend some time this weekend going over what I expect to happen next week. For now, here are some charts to peruse as you wrap up your Friday. Try to draw your own conclusions and see if they jibe with the predictions I'll give you later tonight or tomorrow.
I have an opportunity tonight to be on a conference call/discussion tonight with Clif High. I don't know how many questions I'll be able to ask but, if you have anything you'd like me to mention or ask, please list it in the comments below. Have a great Friday. Go relax and have fun. TF