In a couple of posts last week, I argued that the selloff in precious metals over the last two weeks was not as bad as it originally appeared. I mentioned the fact that despite all the damage done, they were likely to close unchanged or even up for the month of November. Well, anything can still happen here on the final day (Expect some volatility when Powell and Yellin come before Congress this morning) but if prices remain where they are right now ( a big if) gold is actually up a bit more than 3/4% for the month and above both the 50 day and 200 day mvg. averages. Bullish action for a month with a devastating takedown. Silver was not as good. It was hit harder (as usual) is below it’s moving averages and is currently about $1 below where it began the month. A split decision, that while not as bullish as I thought it would be, is quite positive in the long term scheme of things, since my whole contention in those posts was that this was a positive prelude to the strong 2022 I expect for gold and silver. Nothing about Novemeber’s trading changes that outlook.