Thursday, December 2, 2010
Gold This Morning: Just the Facts --Jon
Overnight turnover is running at about half of recent numbers with no evidence of direction. GSR is unchanged ~48.70 and RSI(14) is in slightly at ~58. Open interest was up marginally at 600,000 contracts and given recent distribution new buyers may have to stretch...we shall see. The news-front was fogged up as the bobbing heads on CNBC seemed mesmerized, again, by a banal dose of Gartmannese yesterday afternoon. Today: Easy to fade the market in light volume so stick with the bullion fundamentals and nibble only at dips.