Uncle Jimmy's favourite trader has a good explanation for the monthly raid on commodities, which was implemented for the past two days. We will see if NY can maintain their $1460 gold cap for the remainder of today.
Regards - VHF
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Media Still Not Reporting Nuclear Situation
J.B. Slear
April 13, 2011
Yesterday we witnessed the standard pullback of all things consumable. To me, this is what happens just before the CPI comes out. This way the deciders can claim that there is no inflation (or lower) because their reports tell them so (they gauge after the pullback). Everything physical was in the red. Check the theory out for yourself. Mark on the calendar the next CPI due. A few days before, there will be a pullback across the board, like yesterday. US$ is lower with the trade at 74.990, down 7.5 points. The bottom so far is 74.955. Treasuries are mixed as the energies recover from Tues pullback ($4.00 drop). Gold is higher by $8.10 with the trade at $1,461.80. Silver is up by 44.4 cents trading at $40.510 with a high of $40.565. May Silver contracts are a primary settling month, I expect a sideways to lower move for a short period of time before we go higher. All Grains/Softs/Meats/Paper Markets are higher as well. Stay Strong!!
JB
