Triple Witch is over, let the Gold/Silver Rally continue
Posted on September 21, 2012 by JB Slear
US$ got its needed 50 point boost in yesterday’s trade and has only been able to keep this price move for the day, US$ is currently down 5.8 points with the trade at 79.42 after reaching as high as 79.52, Treasuries show support in the longer term Notes/Bonds but the weakness is in the short termed Eurodollar. Gold is strong with the trade up another $6.20 after yesterday’s bullish turnaround, the December contract is now at $1,776.80 close to the early morning high of $1,778.60, Silver is doing just as well with the trade up 8.2 cents at $34.770 after reaching as high as $34.965, seems as if the anti-metals traders are keeping the cap on Silver at $35 mark, base metals are following Gold’s lead. Grains/Livestock/Softs/Energies are all trading higher as if the only concern out there is against a falling dollar. Is this the start of the needed inflation the Federal Reserve claims is needed to spur on new jobs? What a joke if they think this will help. Governments everywhere need to get smaller and become less intrusive if they are to survive. These overburdening departments only add more weight to the backs of small companies. No change can occur till the reductions in every department of government is reduced, ask any business man, if the revenue is not steady, jobs get affected, even in a government bureaucracy. We expect the Silver/Gold rally to continue from this point forward and hope you had the chance to add to your positions this week. The Triple Witch did not affect the metals as they normally have, it seems the metals bulls expect a much bigger rally and refuse to liquidate. Time reveals all and it seems this rally is about to begin in earnest. Enjoy your weekend and as always …… Stay Strong!!