Gold and silver gave back a little of their gains from last week in lethargic trade.
There was very little delivery activity at The Bucket Shop.
Nova Scotia delivered 4,300 ounces of gold from their house account to the house of JP Morgan. This brings the monthly gold total to an underwhelming 9,100 ounces.
A pittance of silver was tossed about.
The dollar gained back a little more of what it lost last week.
Let’s see if gold and silver can do something more interesting than just roll over in the face of synthetic paper selling amongst the punters in London and New York.
Next week will be much more interesting with the FOMC meeting followed by the December stock option expiration.
I think the Fed is going to raise 50 basis points in two steps and then wait to see how the real economic numbers are coming in next year.
Have a pleasant evening.
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