Gold and silver saw the usual capping action today, get shoved back to their magnet prices of 1200 and 16 respectively.
As you can see on the calendar below we have a precious metals option expiration on Thursday, June 25th for the July contract.
That option expiry might not be all that meaningful for gold, but it certainly might provoke some action in silver, which has an active July contract.
The stock markets were driven by concerns over Greece today, and to a lesser extent the volatile financial markets in China.
One would have imagined some follow through on the flight to safety bump higher we saw yesterday, but not in The Bucket Shop, these days.
The economic calendar for next week is below. The Q1 GDP third revision is such old news now that I doubt it will have much impact. Durable goods is very volatile, and sometimes used as a cover for stock market shenanigans.
We will be seeing a stock market options expiration next week as well, and that often drives some gaming of mining stocks and other equities.
Otherwise it will be another week watching for the new and ridiculous ways that the Old World economists may decide to baffle the world with their insanely ideological brand of medieval economics and arcane austerity cures.
And speaking of unspeakable lunacies, let us hope that the TPP FastTrack may fail ignobly in the Senate.
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