I’d like them to explain themselves a little more than they have done in the past but we have to hand it to the German team they have “nailed” the bullion weakness in recent months. Only the false break to the upside made the question their call and this questioning lasted only a week or two. Last week they flagging 1661 as a target to the downside on gold and 30 on silver.

This should have some implications for the GDX, Sil and HUI miners indexes which wouldn’t be helpful for my own book’s mid Jan option call position.

Here last week’s report. I’m awaiting this weeks.

BullionWeeklyTechnicals29102012

Here the Standard Bank’s analysis:

sbank022012weekly

Patience patience. We are in no rush so long as you are getting paid to wait from the other exposures within your portfolio of assets.

Rich

P.S. And here WF on economic indicators roundup.
WF-MonthlyEconomicOutlook_11082012

 

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