Idle

Prices are sort of idling today as the gains of yesterday are digested and preparations are made for a volatile Wednesday ahead of the latest CPI report.

Comex gold is higher as I type but Comex silver is down and taking the GDX along with it. This is not surprising, however, and we predicted as much in yesterday's podcast. After finally breaking above its 50-day moving average for the first time since April 20, the most likely next step was/is a pullback to test that level for support. That's exactly what is happening today. And now, what follows tomorrow...

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Key Economic Events Week of 10/3

10/3 9:45 ET S&P Manu PMI
10/3 10:00 ET ISM Manu PMI
10/3 3:10 ET Goon Williams
10/4 10:00 ET JOLTS
10/4 10:00 ET Factory Orders
10/5 8:15 ET ADP jobs report
10/5 9:45 ET S&P Services PMI
10/5 10:00 ET ISM Services PMI
10/6 8:50 ET Goon Mester
10/7 8:30 ET BLSBS
10/7 10:00 ET Goon Williams
10/7 11:25 ET Goon Kashnkari

Forum Discussion

by vonburpenstein, Oct 6, 2022 - 7:32am
by 11IMIX, Oct 5, 2022 - 5:17pm
by PMtoxopholite, Oct 4, 2022 - 8:06pm
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