Fugazi

In honor of "Rudy Havenstein", whom it seems has been permanently kicked off of Twitter, FUGAZI just comes to mind this morning as I look around and assess where we are in the precious metals. It's a slang term for "messed up, fake and crazy" and, boy oh boy, do things ever feel that way again today.

Let's start with the big news of the morning...that latest update on producer/wholesale prices in the US, the PPI. It came in way below expectations, as you can see below:...

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Key Economic Events Week of 7/22

7/23 10:00 ET Existing Home Sales
7/24 9:45 ET S&P July flash PMIs
7/24 10:00 ET New Home Sales
7/25 8:30 ET Q2 GDP first guess
7/25 8:30 ET Durable Goods
7/25 1:30 ET Comex option expiry
7/26 8:30 ET PCE and Core PCE
7/26 8:30 ET Personal Inc and Spend

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