Gold and silver were pretty much capped today as stocks rallied on the hopes that nothing bad will happen in Iraq, Gaza, West Africa, and the Ukraine. The miners seemed to gain a little lift, but really there is not much that happened that is worth wasting words.
As of Friday, approximately 418,800 ounces of gold have been claimed in the month of August. But as you can see in the latest Comex warehouse report, they are just sitting tight where they were. Comex is a sideshow now in the global precious metals markets.
The next Comex option expiry will be on August 26th.
Let's see how the rest of the week goes.
Have a pleasant evening.
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