from Jesse’s Café Américain:
There was no movement in or out of the Comex gold warehouses yesterday. At some point they must debit the delivery of bullion to the February longs which have stood for delivery.
Gold and silver were short term overbought yesterday, and so a pullback is not all that surprising. It was interesting to see the precious metals moving with stocks today, as gold at least had been working as a counterplay flight to safety.
The 200 DMA for gold is around 1309, and so we would like to see this level hold on this retest and retrenchment.
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