Peppy and potent classic turnover...if you wanted to get in, you paid up. We have already achieved yesterday's target in the mid $1470s. The facts: GSR is slightly easier ~36.60 as silver moved effortlessly higher without any resistance at the big-round $40 number. RSI is clearly elevated at ~68.70 but we would take comfort that this is no more than a foray to retest the slightly overbought readings of 2 weeks ago...an imminent rampage can often be its own reward (or quite simply, stay out of the way of objects larger than your ego). Gold open interest as of Wednesday rose a piddling 2,000 contracts leaving total COMEX open interest at a trivial 510,000...take a visual please, there is no queue at the gold window, yet. Today: Yesterday's global physical and financial tremors were brushed away like Marie Antoinette's crumbs as the band played on so irrespective of Friday position squaring our sights are set on ~$1500.00.
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