Storm's effects
Pent up demand driven by bargain hunters and short covering investors sent gold, silver and the other precious metals up Wednesday, despite trading that is still on the thin side because of the storm's effects.
Greece
There was also some good news for gold insofar as the EU and Greece seem to be finally moving toward a resolution of that small country's financial difficulties. That would mean a strengthening of the euro, generating a negative pressure on the dollar, and therefore positive for gold.
US employment
Expect the next few days to remain sluggish ahead of US employment figures on Friday and because of the waiting game we are all playing regarding the upcoming US elections and change of leadership in China.
However, from our vantage point, the lynchpin for gold, and all matters economic, appears to be Europe.
