“These violent delights have violent ends
And in their triumph die, like fire and powder,
Which, as they kiss, consume.”
William Shakespeare, Romeo and Juliet
Stocks bounced back a bit on Friday after the big selloff, while the metals continued their upward push into what could be some fairly stiff resistance.
The task for told this week is to take out the psychological 1300 resistance and stick a close above it.
As for silver, the 18 handle looms above.
I have been noticing a bigger than usual divergence between the spot price of gold from Kitco, for example, and the quotes I am receiving live from the Comex.
For example, the Kitco spot price quote right now is 1288, whereas the Comex gold continuous contract and December contract quote is 1294.
Well, it would be more of an issue if I was striking a price for a physical sale.
Stocks need to hang on to the bounce.