Gold and silver had their expected bounces off a fairly strong support level on their charts today.

While it will be nice to see if they can hold this level and build up from here, the real question is if gold can break out of the potential trading range with resistance overhead at 1770.  

Just look to the left on the chart, to see the last time gold dallied around these levels.

At this point, I suspect that silver will continue to follow gold and that gold will have some inverse correlation to the Dollar.

This is a choppy, highly technical trade. It befuddles most, especially the momentum players, because by its very nature it lacks momentum.

Stocks are grossly overvalued, but they may continue to be so for some time, given the massive amount of money printing, with its distribution priorities to those who play with asset prices, a key facet of our financialized economy.

There will be a Non-Farm Payrolls report early on Friday morning.

Alas, the money changers and their smirking chimps will not be able to gimmick the markets easily, because they will be closed here in the US for Good Friday. How inconvenient that they may miss an opportunity to steal.

I have included the Comex Clearing Report for the gold April contract because it has some interesting and somewhat impressive numbers.

Goldman has some interesting in and out action in their own house account.   

Is this the reflection of some custodial responsibility, or were their traders just having a day?

Have a pleasant evening.

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