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Gold This Morning: Buy the Dips --Jon

|Includes: GDX, GDXJ, SPDR Gold Trust ETF (GLD), GOEX, SLV
http://www.biiwii.blogspot.com
http://www.biiwii.com

Overnight turnover is running at about half of recent numbers with no evidence of direction. GSR is unchanged ~48.70 and RSI(14) is in slightly at ~58. Open interest was up marginally at 600,000 contracts and given recent distribution new buyers may have to stretch...we shall see. The news-front was fogged up as the bobbing heads on CNBC seemed mesmerized, again, by a banal dose of Gartmannese yesterday afternoon. Today: Easy to fade the market in light volume so stick with the bullion fundamentals and nibble only at dips.


Disclosure: No positions mentioned