$Gold Daily

The daily gold price action was called by Stewart Thompson's 14,7,7 Stochastic indicator. But other indicators are in opposition.

http://schrts.co/JCmfgd

Our weekly indicator in $TSX:!PRII looks to obtain the 13-week EMA after a major reversal, but may 'turn in the middle of nowhere.'

http://schrts.co/nG2izA

Central banks playing the yield curve at both ends in U.S. Treasuries., notably European central banks buying shorter term U.S. treasuries, in order that the inversion between U.S. Treasuries and long-dated Euro-denominated bonds is maintained, and the PBOC selling at the long end of the curve, thus steepening the yield curve, raising interest rates, thus lowering the gold price so they may diversify into gold is the source of the action.

Wall St. responds by flooding the secondary market with treasury bills, and running the stops on the dollar short position. The inverse correlation with dollar/gold has deteriorated, and the silver/gold ratio seems to have a notable low.

http://schrts.co/CwFlzT

It's important since the FOMC met Tuesday/Wednesday and the 29 Oct. is the annual general meeting for GBN.V today.

-F6