Gold and silver were well bid through the night and early morning. Just before 8 this morning selling emerged to beat Gold back from 1680 & Silver from breaking above 32. Right around 830 est we got a surge in Gold up through 1686 and Silver through 32. Shortly there after they were both shoved back. currently Gold is well bid in the low 1670's and Silver around 3175, for now. Here are the charts, these are both daily charts and I want you to notice the tight wedges that have formed on both.
If you are trading be careful but I am sticking with my conviction that both these metals will break to the upside in the near future!
The Reserve Bank of Australia did not cut rates last night and the Aussie sold off anyway, I'm a buyer around 10350 with my risk just below 103. Stocks have reversed all of yesterday losses, today is a good day so far for the INVISIBLE HAND. Hope to see you all later after the markets close.
Great Day to all!
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