Loading ...For the last 15 years, when I said that it was because we were getting pounded one more time. Not for the last 6 months or so, unless maybe I was referring to silver, which is still on lockdown.
Gold up $63 at the moment, pushing toward $3400. Just a steady bid there, moving up 2% or more at a time these days. Something I’ve never seen. I’ve noticed that spot is only within $10 of the futures price. Not sure what that means for prices going forward, just seems folks want the metals right now.
Silver is still our nemesis, up $.23 but only .70% Not being viewed as money just yet.
Dollar getting smacked a bit, SM and oil the same. Bitcoin jumping near 3%.
Yields on the 10 yr. are up almost 4 bips to 4.36%. Yield curve steepening at the long end but strange action in the two’s and five’s, which are trading well below the 3 month rates. No clue what that means.
The action in gold makes me wonder if the market is sniffing out a revaluation. Buying is steady and fearless.
I know one day I’m going to wake up and see gold soaring like this in the overnight market, only to see it reverse during the Crimex session. Hopefully that’s not until we see much higher prices.
Very early, and metals slipping a little as I’ve typed. We’ll see.