A Frustrating Morning

After the CPI printed below expectations, bonds rallied and the POSX sharply sold off. This initially led to a surge in the Comex PMs but The Machines have prevailed since and prices have slid all the way back to unchanged on the day.

And that's pretty frustrating. As you know, I was hoping to see some short-squeezing today but, instead, we've gotten more of the same old tired excuses about how gold didn't go up with inflation and now it's going down as inflation cools.

But gold should be up today as rates are down and the POSX has fallen over a point....

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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