Remember, bull markets in the Comex precious metals always proceed in a manner of two-steps-forward-and-one-step-back. Why always? Because that's how the pricing scheme operates. Price pulls back to support and some Specs get washed out. That's how it works.
Well it appears that all-out regional crisis and war in the MENA has been averted today. Whew! Maybe now we can get back to dealing with option expirations, Goons, datapoints and all the rest.
But it sure seemed dicey when the news broke last evening. I was hanging out with MrsF when I...
After testing some downside yesterday, the Comex PMs are rallying again today with CDG back near $2400 and CDS cooking, too. Continued war fears and support from DrC are helping prices to overcome any attempt at profit-taking price management.
The Comex PMs are bouncing around this morning as CDG looks to extend a four day winning streak and CDS looks to recover some of its losses from yesterday. So far, so good but there's a lot of day left.
One of the things we'll be waiting for today is the latest supply/demand report...
For a somewhat refreshing change of pace, the day thus far has been short on war headlines and long on market-moving economic datapoints....like the good old days of two weeks ago! Can the pause in the potential MENA doom-and-gloom continue for more than a few hours? Probably not so let's just...
The Sum of All Fears looks to play out this weekend and global markets are reacting accordingly. We can talk about prices and such today but perhaps it's more important to be reminded that now is the time to remain situationally aware and alert. The markets will still be here on Monday but,...
It is a quiet day, at least so far. The latest PPI data came in slightly "cooler" than expected and it prompted a quick rally in the Comex PMs...a rally that just as quickly evaporated....
For now, our boy Jerry is having it both ways. He has driven the fed funds rate dramatically higher over the past two years but, on the surface, the U.S. economy has seemed to continue growing. But now inflation is returning and Jerry has said that any weakness in the labor market will bring a...
Well, we've made it to Tuesday. The end of Ramadan and the start of the wider war in the MENA? Yes to the former and a maybe to the latter. What we do know is that there is no scheduled news today. No Goons and no data. But that all changes tomorrow so we'll see where we go from here.
