"Tis The Season To Be Volatile

Short coverers and bargain hunters decked the halls today and drove gold prices up by almost $20 (as of 4PM in New York). As we have warned recently, this is a volatile time of year and today proved the point. On top of that, investors are squaring their books as the year ends and the best info we have is that one or two major players jumped out of their short positions and voila... gold rose.

Other markets exhibited normal characteristics, although not the precious metals. Equities were up, the dollar was up, crude continued its belly flop into the shallow end. 

We consider today's gold move to be purely opportunistic and, for the moment, not a significant factor in longer term outlooks. 

Monday and Tuesday will be slightly more regular in respect as to which people and how many people are trading. But, it will still be light. The chance of swinging pricing is therefore quite possible.

Wishing you as always, good trading,