This post will be brief, as I am tending to unforeseen developments regarding my coal cellar. Let's face it, coal cellars don't take care of themselves, and poor morale and absenteeism in one's workforce don't help. I have given up on one especially delinquent employee, who shall go unnamed. However, I have found a suitable replacement:
On my flight from Bilderberg, owing to unusually slow champagne service, I found some time to prepare these updated versions of last week's charts.
Regular King World "News" listeners will recall, on June 1, Art Cashin of UBS announcing the following:
This morning at 8:32 AM (EST), gold converted from just another asset class, back into safe haven status.
Actually, savvy readers of this blog know that gold entered a new safe haven phase the day before, when I showed how our proprietary $GOLD:$CRB chart had just crossed the red horizontal line to an all time high (it has since broken out well past it, before consolidating a bit Thursday and Friday during obviously manipulative maneuvers)
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| Though I'd like to see the triple crossing point (at $22) on the linear chart safely behind us (early July) before I am bullish on silver. |
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| The monthly gold chart looks good, with gold bouncing off the bottom of the brown trend channel yet again this week. |
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| Note how the crossing point of the blue and purple trend lines was support on the "10 yr yields in silver" chart |
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| And similar action on the weekly version of the same chart |
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