Daily price volatility in gold and silver futures markets has turned “extreme,” said Jim Wyckoff, senior analyst at Kitco.com, noting that the shift is not bullish. The move suggests “at most, a climaxing phase of the major bull market runs, and, at least, it suggests an unknown time period of choppy, highly volatile trading that could drive away both speculative bulls and bears in the gold and silver futures markets, for fear of getting whipsawed.”
On Comex, December silver fell 7.7% to $47.40 an ounce, while December gold traded at $4,124.20, down 5.5%.
