Gold Daily and Silver Weekly Charts - They Make a Desert, and Call It Peace

"Plunderers of the world, when nothing remains on the lands to which they have laid waste by wanton thievery, they search out across the seas.

The wealth of another region excites their greed; and if it is weak, their lust for power. Nothing from the rising to the setting of the sun is enough for them.  Among all others only they are compelled to attack the poor as well as the rich.

Robbery, rape, and slaughter they falsely call empire; and where they create a desolate wasteland, they call it peace."

Tacitus, Calgacus' Speech from Agricola

Perhaps Calgacus was anticipating the rise of the predatory financial class and their Banks.  They seem to be almost unparalleled in their global power and reach, as well as their lack of self-awareness, and arrogance.

Gold and silver bounced back a little today, but from the charts it is clear that they are now working once again on an important overhead resistance level that marks a key 'neckline' in a series of inverse head and shoulder formations.

We may see quite a bit of sideways chop for the month of March, in anticipation of the next active delivery month of April.

Friday is another Non-Farm Payrolls report, which is often a magnet for market antics.  If the big trading desks cannot shove the price of gold lower, then we might have some indirect confirmation that the shortage of physical bullion from the huge transfer of bullion to Asia is starting to bite into the cartel's ability to shove the paper markets around with their position size and leverage. 

There was no movement of bullion in or out of the Comex warehouses yesterday.

Have a pleasant evening.