Gold Daily and Silver Weekly Charts – Big Deliveries at Big Price Resistance

from Jesse’s Café Américain

“What is at stake is a rather heroic rebellion by a very beleaguered people against a doctrine which has been destroying their lives— the austerity doctrine and the whole neoliberal project.” – James K. Galbraith

Although Jamie was speaking about Greece, this can be applied across the developed nations.

There was another big delivery day for NY gold yesterday, at least by Comex historical measures, as HSBC led the delivery of over 100,000 ounces of gold at 1,249, with the house account and mystery customer at JPM as the big stoppers.

Silver is not so active this month, due to the nature of its June contract, but bullion keeps trickling out of the warehouses. Denver Dave has suggested that this might be an arbitrage play between NY and Asia.

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