Wednesday, June 1, 2011

Precious gain in Asia

Hong Kong is bouncy

11:17 p.m. (Hawaii) As Hong Kong nears the close of day, Gold and Silver is securing modest gains. This looks more like consolidation than any outright bullish or bearish behavior, with the one caveat being the potential for the puppet masters to flog either metal into the gutter at any time. Of course, every time they bring price down, buyers enter and collect both physical and paper PMs.

The next few hours are often enough the time of night when the puppeteers do their string-pulling, when there is little resistance in a lightly-traded market.

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