Well... normally I'd say bash gold cover silver! but it would seem that no longer works that well + well, the comex looked like a normal orderly sell off today. You know, like a proper market... no suicidal leaps out no where. It would appear to be trading like a proper market, just right at this moment. SO... I guess, maybe, just maybe, we are seeing the nascent indications that proper price discovery might, just maybe, be on its way. Do I sound tentative? LOL.
I'm going to guess that it has something to do with industrial demand. Factories are hiring like mad and trying to ramp up production for some reason - just like 2007/8 just before the bottom fell out. Maybe a dead cat bounce for industry ?
I dunno, I'm just so used to seeing that Comex plunge that it stands out like dogs balls when that period trades smoothly in a sell off. I guess that the gold traders discovered prozac and are no longer prone to jumping out of windows?! Something is changing!
It's interesting that gold is soft, but silver and the HUI are holding firm.
Something is going to swing before too long. I'm betting gold is the leader this time and the other two will fall into alignment early next week.
Although, we just had this newest terror attack in France, that could be a catalyst for gold to catch up.
Personally I like the fact that the HUI, Gold and Silver are basically holding the line. I think it's quite possible that we might take the next hill. AG $23 AU $1400.. then possibly some correction. This move seems healthy to me, but what do I know.