Here we are. It’s Friday morning. Inauguration Day. Glad for it, too. Let’s get on with the real business of America, shall we?

I note that Thursday, and Friday morning, gold prices are steady and stable at $1,200 an oz, $16.91 for silver. The miners closed Thursday; some up, most down. Let’s go to the charts for any word as to what might be going on.

Starting with losers on light volume, we’ve got: PVG, PAAS, SILJ, CDE, SGDM, AG, FSM, GDX, HL, SLV, SSRI and GLD.

Having some gainers, these did so on light volume: ABX, SLW, RGLD.

Right away, I know it was a low volume day, as we had no average volume or high volume gainers or losers. Every one moved on low volume. How low? The average volume for all 15 together was 31% lower than its own 50-day average of volume… meaning, it was a real nowhere kind of day for gold, silver, and their miners… which also means, we continue to watch and to wait… again!

It’ll be worth it.

Harold F Crowell

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