Gold Daily and Silver Weekly Charts – Monster First Delivery Day For August Gold

from Jesse’s Café Américain

Nova Scotia offered up 406,700 ounces of gold from their house account for the first delivery day in August. That is the biggest number I have seen in some time.

And they sold it at what was close to the low for yesterday at $1,332. That’s what one gets when they sell big in an active month which August is for gold. What were they thinking?

The silver deliveries were fairly inconsequential for August, so I did not bother to update them.

Uncle Buck, aka la douleur du monde, took the gas pipe on that horrible GDP number, at 1.2% versus 2.6% expected, with a downward revision to 0.8% in the prior period. No wonder the Fed balked at even a fairly symbolic rate increase this week. They may play dumb, but they know.

Continue Reading at…