Gold Daily and Silver Weekly Charts - End of Quarter - When Dollar and the Pound Are But Dust
This week is the end of the third quarter.
Those holding the big short in the metals might strive to keep the price down to make their 'mark to market' look less daunting.
Stocks may find a bit of a floor 'unless something happens.'
The fundamentals for gold look formidable. The long lull of summer may be coming to an end.
When the dollar and the pound, and the empires they helped to found, are but dust and faded memories of days gone by, gold and silver will remain.
In Egypt's sandy silence, all alone,
Stands a gigantic Leg, which far off throws
The only shadow that the Desert knows:
I am great Ozymandias, saith the stone,
The King of Kings; this mighty City shows
The wonders of my hand. — The City's gone,
Nought but the Leg remaining to disclose
The site of this forgotten Babylon.
We wonder, and some hunter may express
Wonder like ours, when through the wilderness
Where London stood, holding the wolf in chase,
He meets some fragment huge, and stops to guess
What powerful but unrecorded race,
Once dwelt in that annihilated place.
Horace Smith, Ozymandias, 1818
*Post courtesy of Jesse's Cafe Americain.+8
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