Gold broke support, copper broke trend, US dollar climbing, but silver and oil holding; is there a trend here? Doesn't look like it, except for a general breakdown of the commodities, with some worse than others. Let's look at some in detail.
Asian central banks, the traditional financiers of US debt, are decreasing their holdings of Treasuries. Who's picking up the slack?
Gold made its big move on Thursday and Friday. The trend is set once more to the down side but let's see if this is as serious as it looks.
At night, the locals know that the old man living by trench PM1-A8 turns into a pig. No one, not even the witches, dare go near there after dark.
I get so tied up with gold that I sometimes miss out on the other metals or energy commodities. I don't recall looking at a long term chart of Copper for quite some time.
Ken Gerbino's laundry list of good reasons why gold must go higher.
A $4.00 drop in gold, a $0.10 drop in silver, a 0.8% rise in the US$ Index, what a day! But is Friday a portent of days ahead or only an aberration? Stay tuned as we hope to find out.