Loading ...Yesterday’s share sellers knew a metal smash was coming today, so as always, they got out in front of it.
Oil down 2%. Bitcoin getting flushed for another 6% down to $81K – at least gold is far outperforming Bitcoin, silver too.
According to ZH Japan is having some problems with their bonds and the Yen, I’m not a subscriber, so I don’t know what the article said, but it’s just a matter of time before someone in the west collapses.
Money does appear to be rushing into treasuries, 10 yr. down almost 5 bips to 4.04%. Fed meets in the 2nd week of December. If the SM starts to crater until then, bonds might do the cutting for the Fed. Our bonds are the best junk in the pile.
None of this should be bad for pm’s, but the paper players will probably try to hammer the metals anyway. They seem to be having a much easier time with silver than gold. Gold is down less than 1/2% right now, while silver down over 2%. Same with yesterday.
***As I’ve been typing, something just goosed the SM. Gold only down $9 now. Silver still down a buck though, but NEM flipped positive in the premarket. Not sure what just happened.***