UPDATE: I attacked Turd Ferguson in this post on the grounds that he disrespected a Screwtape colleague. I have since reason to believe (as per Turdite and commenter LeGrew's insight) that I might have jumped the gun and accused him unfairly, so I have deleted that part of this post, which, upon reflection, was uncharacteristically nasty, on account of my oxycontin withdrawal pangs at the time.
Alright, now to the metals. We had a big move to close the week and month. These charts all speak for themselves, but I will speak a few words for them regardless (in captions):
|Gold YTD. Watch the 40-day exponential moving average, which I follow in place of the less informative 20-day.|
|Big test for the "gold as safe haven" chart!|
|Silver bulls need to watch the 50 day moving average, then the green line. Till then, outlook bearish, though as I said last week, I will not short.|