by Alasdair MacLeod
Gold Money
After declining recently, gold and silver steadied this week in oversold conditions. This morning in European trade gold was $1847, up $37 from last Friday’s close, and silver was $21.10, up 50 cents. Turnover on Comex has been low in both contracts.
We still lack Commitment of Traders Reports following the ransomware attack on ION, one of the software providers used to submit data. The last report was for 31 January. There is no way of knowing how many traders own systems have been breached by the Russian ransomware attacker through ION. But if the attack has not only accessed data but trading systems, there is no knowing how much damage there is to paper markets and disruption yet to be caused.