by Alasdair MacLeod
Gold Money
Massive Comex silver deliveries: does this indicate a scramble for metal? And are the silver short positions spiralling out of control?
[…] Gold and silver consolidated this week, with gold testing support at $2300 and silver at $26. In European trade this morning, gold was $2302, down $35, and silver $26.56, down 66 cents. Volumes on Comex in both metals declined as the consolidation has progressed.
The highlight of the week was the FOMC meeting and statement. As it turned out, there was little surprise, other than the pace of quantitative tightening which persuaded optimists that pressure on yields along the curve would be reduced. Consequently, yields ticked marginally lower, as the chart of the 10-year UST note shows: