Let's start with gold which, personally, I'm getting a little sick of. As I showed you over the weekend, gold has been in a range now for over six months. Yuck. It's wearing me out. It had some promise overnight but the lack of follow-through in WTI put a damper on things. As we all know, the price of gold as insurance against collapsing fiat should have nothing to do with the price of WTI but try telling that to some of the Commodore 64s that are currently in charge of the trade. This, too, shall pass...perhaps very soon. But for now, the range continues:
Now, one more thing regarding WTI. Brent crude is currently over $120/bbl, which is a gain of about $1.50. If Brent hangs in there and then moves higher, crude will eventually jump to catch up, regardless of how much oil is stored in Oklahoma. WTI at $110+ will make The Cartel's task of containing gold below $1440 considerably more difficult.
Silver is just beautiful. In the past, you've heard me mention how the nasty shorts will place "buy stops" just above previous highs. The dipshits figure that if silver breaks out to new highs, they want to cover their shorts and look to re-establish at a higher level. You can clearly see this on the chart below:
Lastly, my corn is just doing great. Check out this daily chart:
Read this, too:
OK, that's it for now. More later...before the big basketball game. TF