Gold Daily and Silver Weekly Charts – ‘Goldilocks’ and The Recovery®

jessescrossroadscafe.blogspot.com / Jesse / 07 OCTOBER 2016

The Jobs Report came in weakly this morning, almost surprisingly so, all things considered.  It was heavily touted on the financial infomercials that pass as business news as a ‘goldilocks’ report.

If the Fed did not want to get off the ZIRP boundary so badly I would be guessing that they would be doing nothing much until there was a real indication from the economy that it was warming up. But since they do want higher rates for their own policy purposes then a one-and-done in December still feels like a viable option.

Gold and silver were hammered this week. The notion that this was normal market action is risible nonsense if one looks at the actual tape of the huge sales at market in quiet hours. It was classic market manipulation.

The problem for the bullion bullies was the huge overhang of longs in the October and December contracts, stacked up against the steadily shrinking supplies of freely available metal.

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