Just an update from JB on the traditional quarterly suppression...
Regards - VHF
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Triple Witch has done its work in Gold
J.B. Slear
June 21, 2012
US$ can’t get the support it had from the last quarter and continues to fall slowly with the last trade at 81.70 after getting down to 81.66 with Treasuries are all in the negative since the FOMC notes came out yesterday. Petro Products took a turn to sharply lower yesterday and is continuing the decline with Crude Oil now trading at $80.87 a barrel with the rest f the sector following suit. Gold is down $18.50 with the trade at $1,597.30 after going as low as $1.594.90, Silver got punished just as much with its trade down 49.9 cents at $27.880 dragging the rest of the complex lower as well. All Grains are flat to negative, Softs are mostly lower with Coffee the exception, Meats are flat to lower. Paper Markets are continuing its overseas support because there is none within the nation. Triple Witch Week has proven itself again with Gold/Silver getting hammered, today is generally the low with tomorrow or next Tuesday possibly being used to lower the prices as well. We start our buying of options during these dips and see no change in sight till a more responsible monetary system is put into place …. Stay Strong!!!
