• Gold: 1,255.25 -0.55
  • Silver: 16.05 0.01
  • Euro: 1.176 0.001
  • USDX: 93.932 0.443
  • Oil: 57.38 0.12

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.

 

http://blog.milesfranklin.com/the-dow-jones-propaganda-average

 

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.

 

ahoffman@milesfranklin.com

www.milesfranklin.com

 

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