Loading ...I knew someone else would be up at this early hour, although you guys are out west so you may have just hit the sack as I’m getting up.
Goldie – that’s a lot of interesting charts. Doesn’t seem like those charts look too bad for the pm complex.
Silver is up 1% or so in the overnights, gold down a few bucks. Both were stronger earlier as silver was up over $.50 at one point but then rates and the dollar started to tick up and took the wind out of their sails. The very early look at pm shares has them flat for the most part.
The SM is down a pinch but really none of this is going to matter once the PPI numbers come out. I suspect if they are in-line we probably get the same results as yesterday. If a little hot, we may have some problems. We are getting to that time when volume is going to taper off near the holidays. Barring any black swan type of event, I don’t see why the SM won’t continue to sort of melt-up into Christmas with a rate cut coming and volume on the soft side.
We do have those mystery drones flying over NY and NJ but I suspect either the Pentagon or Elon Musk know exactly what those things are and where they are from, so I doubt it is a mystery at all. We had a Chinese spy balloon flying over the US for a while earlier in the year, so apparently our airspace is wide open for any old country that wants to have a look. The congressman from NJ claims they are from an Iranian drone mothership off the coast, the Pentagon denies that. Whatever happened to the US Gov’t. of honorable and serious men? Guys like Eisenhower and Kennedy, even Reagan? Our gov’t. is like a bad reality TV show, full of all sorts of weird ducks and dishonorable people. Clown world. I need to mosey on over to Kunstler’s site and see what he has to say about all this stuff.