Turd's in charge of the 12 & under soccer carpool tonight so just a quick update.
First, watch the overnight action very closely. On past American bank holidays where the PM price has risen, the metals have subsequently been raided on the Globex and LBMA, by The Cartel, in an attempt to immediately claw back the gains. President's Day in February and Labor Day last month come to mind. Additionally, someone blew out some silver right at the close...enough to drop price about 30 cents. Did the EE alert a few friends of their overnight intentions? We'll see...
For a longer-term perspective, here are updated weekly charts for you to chew on.
Lastly, I'm going to beg you again to spend 45 minutes watching this video from Ned Naylor-Leyland's "Sound Money" conference last January. IF you think you understand the gold market and IF you think that the action since Labor Day has been "a natural correction", you might want to take the time to watch. Frankly, if you're a Turdite and you haven't yet watched this, shame on you. This is information with which you simply must be familiar.
More tomorrow. TF
9:50 pm EDT UPDATE:
No real update. I just wanted to add this new video from loyal Turdite "Green Lantern". He took it upon himself to venture down to lower Manhattan to see what all the commotion is about. Below is his email "report" as well as a link to the video he uploaded to YouTube. Anyone else willing to do the same will get similar free press from yours truly. TF