There has not been much to say.  Gold and Silver are retreating and the Dollar is coiling for a move.  Everyone is waiting for the Jackson Hole Meeting followed by the POTUS speach on September 5.  The Dollar is tending to be soft which is amazing given Europe's troubles.  Clearly, there is an expectation that there will be added stimulus to help save the thieves in Washington and on Wall Street and that POTUS will try to buy votes with give away programs.  If all this happens the dollar may give ground from here as it breaks the current support levels.  At some point there should be an explosive rally in the Dollar - so I would rather be long than short.

Gold and Silver are falling.  Tomorrow is an options expiry day and typically the dealers have used this as an occasion to crash prices.  In the past the rally picks back up a few days after the options are off the table.  Again, things are coiled for a move.  If we get more of the same from Bernanke and POTUS we can look for the markets to move up.  This is a dangerous time to be trading because the huge Hedge Fund long position in Gold is a tempting target that the dealers will find hard to resist.  More important Central Banks need to shake out some of the Gold held in private hands to ship to Venezuela and to scare away copy cats.
So.. In Summary, my expectation is that PM's will continue lower and the Dollar will go higher but for that to happen the markets need to be surprised by a sudden sense of responsibility from those in charge.

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