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Melman on Gold & Silver

After six years of primarily sideways action, gold broke decisively to the upside by breaking above strong resistance between $1,350 and $1,400 by soaring to near $1,450 before correcting moderately.

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Melman on Gold & Silver


On a similar vein, while the number of new non-farm jobs created rose by a modest 156,000 in September, it must be pointed out that Goods Production Payrolls rose by only 10,000 jobs while much lower paying service jobs accounted for the other 146,000.

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All of these negatives have finally begun to erode bullishness on Wall Street and the financial markets began to look wobbly at best and dangerously weak at worst.

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