Gold and silver are both up nicely in early new york trading. The HUI and XAU both opened strong and then were imediately hit with massive selling. This smells of the usual scum activity and has in the past indicated an attempt to bring down the metal prices.

Given that they recently have lost their 100% reliable impact and lately failed to have their historic effect, we could could see either kind of day. A price ceiling in place capping any upward move of the pm stocks OR a break out, shrugging off the usual tricks from the usual suspects.

It would be so positive for the metals if we see both the metals and the shares finish up ~ 2 - 3 %. Film at 11.