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Stocks and Precious Metals – Abide

from Jesse’s Café Américain:

Gold and silver had a very good follow through on the rally yesterday, going out on the highs even into the after hours trade.

Gold is around 1283 and silver 18.50. A weaker dollar helped, in addition to strong physical buying from India for the festival and wedding seasons.

Stocks were off a bit and the VIX ticked higher, in line with a ‘risk off’ day that was propelling the safe haven trade in the precious metals.

I see that the Kitco precious metals ticker on the left has been lagging updates badly. I don’t know what their problem may be, but I moved that ticker below the two from Nick Laird which while they show the five day price trend also show the most recent price and time for each metal.

While they are showing some good strength, the metals need to keep moving to set the higher highs that may persuade the markets in general that their long sideways consolidation trend is over.

It appears that we will have a very early treatment slot at hospital every day for the next three weeks, so I will be around most afternoons. I am not going to promise to stay awake. lol

Let’s see how the trading goes tomorrow.

Have a pleasant evening.

Read More @ Jessescrossroadscafe.blogspot.ca

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