• Gold: 1,313.92 0.68
  • Silver: 16.24 -0.08
  • Euro: 1.229 0.000
  • USDX: 90.233 0.094
  • Oil: 62.19 1.05

Maintain The Status Quo

Ranting Andy
Tuesday, August 14th

SilverSeek.com Comment Wire



The name of the game is the “maintain the status quo” – first until the Europeans return from August vacations, and second in front of the U.S. elections.  Today’s “retail sales” fiasco – following perhaps 20 HORRIBLE, GLOBAL economic reports, was no different than last month’s NFP Employment Report, when unprecedented “seasonal adjustments” turned what should have been a BIG decline into a big increase.




Not only that, the PPI was higher than expected, so on an inflation-adjusted basis, retail sales were even worse.


In the end game, it’s all about the Cartel pushing gold back to its “summer 2012 line in the sand” at $1,600/oz.


Encouragingly, silver is up a few pennies, as it continues to build MASSIVE support in the $27/oz range.


Andrew C. ("Ranting Andy") Hoffman, CFA

Marketing Director

Miles Franklin Ltd.





@SilverSeekWire on Twitter


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