Black Friday Thread
In the holiday spirit, here's an open freebie.
Just a couple of things....
- We're obviously watching the open interest numbers very closely. We'll get the official numbers from Wednesday in a few hours. With The Comex only showing about 591,000 ounces of registered gold, things are about to get very interesting.
- The GLD was pillaged for another 5.70 mts of "gold" back on Wednesday. That's 7 of the last 8 days for a total of 22.50 metric tonnes or 723,391 troy ounces. This could also be stated as 1,808 of these:
- And here are two, short-term charts. Vaulters can attest that Ole Turd has had a very solid week as we've moved through the expiration process. The lows of Wednesday led to a rally today. I had predicted that we'd go out on the highs of the week and, as of 11:00 EST, I've got a shot! Note that, once again, silver is leading gold by a few days. Silver broke through its month-long downtrend on Tuesday. "Rode" the line back down, using it as support for two days, and now is drawing clear and higher. Gold has finally broken its same down trendline today. Both bode well for a bounce and rally as we enter December.
I'll have a new vault thread this afternoon, once I get a chance to review the final OI numbers from Wednesday. Keep in mind, too, that The Comex closes one half hour early today, at 1:00 EST.