I'm having computer problems this morning
which is taking time away from being able to
post anything but charts for you.
I don't know which way gold is going in the short
term, but we are getting closer each day to First
Notice in Dec08 Comex gold and should be seeing
the price adapt to how many traders take delivery
of their contracts. We may see the price move
in anticipation of those deliveries, but the deliveries
will only be known after First Notice on Friday Nov 28
next week by how many traders don't liquidate their
contracts on or before First Notice. The amount of
deliveries will determine how much gold and silver
is withdrawn from the Comex warehouse, and that
will determine how much gold and silver Comex has
to acquire to replenish the warehouse stores of PMs.
That will raise the price of those PMs.
It should be interesting to watch, as everybody is sick
of this manipulation and apparently taking delivery is
the ONLY WAY to stop it. It's also the way to get the
best price (wholesale) for PMs if you have that kind of
money (100 ozs times the price of gold on your contract)
