It's not every day that we urge you to listen to the podcast. However, as we struggle to understand the now-obvious correlation between Comex gold and the Chinese yuan, today's discussion is something you need to hear and consider.
We begin by noting that today was the worst day in nearly three years for commodities in general:
So then we try to connect the dots. Maybe we're onto something, maybe we're just chasing ghosts. Either way, I urge you to listen to the discussion, study these charts and give this information your consideration.
Comex silver was also taken to the woodshed today, falling another 1.6% and hanging perilously close to last week's lows:
And finally, after laying out a lengthy case, we close with these two charts. They're no fun to consider but, given all of the extraneous circumstances here in the summer of 2018, a look back at the summer of 2008 seemed appropriate and necessary.
Thanks for listening,