Gold Daily and Silver Weekly Charts - Facebook Cometh, So Paper Prevails

More capping pressure on the metals today. With Open Interest holding steady and the accumulation patterns intact it seems more like short selling to hold down price. That can only last for so long, and is the stuff of V bottoms.

The Facebook IPO prices next Thursday and that is a 'big event' for the Street.

But let's see how Europe fares. Liquidity panics are painful in the short term.