of the metals “not being down too much.”
What a joke. Let the nukes fly.
On another depressing day, here’s a little encouragement for a better future if you’re sitting on the right side of the fence.
Got Paper? or digits? or ETF’s? or the real thing? Silver and gold in your hand? IMO you’re playing in a rigged casino; heads they win and tails you lose! Listen to Bo!
I’d think Russia would also benefit from higher oil prices as well
ZH has an article about the price of Russian oil in the dumpster.
GDX breaks that bottom and we are so screwed.
A big hit to the shares
I don’t get how these shares can drop so much, especially with the metals not getting hit too hard. My best silver stock is down 5%, worst down effing 9%. WTF??
I hate this stuff.
A fourth ship has been attacked. Start the countdown …
The Hormuz Letter
@HormuzLetter
·
2h
BREAKING: A fourth tanker has just been attacked and hit by Iran in the Strait of Hormuz US-backed southern corridor, struck by a drone and sustaining structural damage, per UKMTO.
This is the first time four vessels have been attacked in a single day since the war began.
Just 24 hours ago, UKMTO advised all ships to use the US-controlled southern corridor, claiming it’s the only “safe” route.
Buyer this morning
…certainly looks like an outlier…..
Not sure what’s going on with Iran, but it looks like they have to “jaw bone” ( and create skirmishes in the Straits of Hormuz) the price of oil higher ( they absolutely are scrounging for reserves). And the U.S desperately needs the price lower ( before mid-terms and to re-fill the Strategic Petroleum Reserve).
And as the price of oil goes higher, the higher the demand for $US, and once again, the PM’s go lower……
Just the way the cookie crumbles….
A third ship has been attacked in the Strait
The Hormuz Letter
@HormuzLetter
·
38m
BREAKING: A tanker has just been attacked and hit by Iran in the Strait of Hormuz US-backed southern corridor, causing structural damage, per UKMTO.
This is the third vessel attacked in the Strait today, following Iran’s IRGC missile strikes on the Qatari LNG tanker Al Rekayyat and Saudi VLCC supertanker Wedyan.
Impressive beating in the shares
Typical.
Interesting that there’s more attacks on shipping in the Strait of Hormuz but the oil price is not jumping
I may have spoke too soon …
Good place for a bottom
Lukas Ekwueme
@ekwufinance
Gold open interest on COMEX is plunging to the lowest level in a decade… and silver open interest is doing the same.
At the same time, 448t of gold and ~6,000t of silver have left COMEX.
Paper exposure is collapsing while physical metal is leaving the exchange.
Stress in the US private credit market is intensifying
The Kobeissi Letter
@KobeissiLetter
Stress in the US private credit market is intensifying:
Investors requested a record -$15.6 billion in redemptions from private credit funds in Q2 2026.
This marks the 3rd consecutive quarterly increase by a total of +$13 billion, or +500%.
Furthermore, just 38% of these requests were met, down from 53% in Q1 2026, leaving $9.7 billion in unmet redemptions, the largest backlog on record.
Blue Owl’s flagship fund, Blue Owl Credit Income, was the most impacted at 19% of shares outstanding, with 14% unmet, the highest redemption rate among its large competitors.
This was followed by Apollo, at 16% requested with 11% unmet, and Ares, at 14% requested with 9% unmet.
Meanwhile, inflows into the private credit industry declined -75% since January to ~$500 million in May, the smallest monthly intake in at least 18 months.
The private credit crisis shows no signs of slowing.
I think the state funeral will be followed by more …
The Hormuz Letter
@HormuzLetter
BREAKING: Iran’s IRGC fired at least two missiles at multiple commercial ships transiting through the Strait of Hormuz, with two commercial ships hit and suffering significant damages, per a US official.
One of these ships is on fire in the US-backed southern corridor off the coast of Oman.
Not over just yet
So, the metals gains they didn’t take from Friday yesterday, they are going to take back today it appears, which explains the share weakness.
As is the norm, we will be set back to Thursday on the metal prices, and below Thursday on the share prices after they take their chunk of flesh today.
Completely unwinnable game at this point.
Rates up, dollar up slightly. The beat goes on.
So it sounds like
So the ETFs and the miners they followed brought the stocks to all time highs but sold off taking them with them. I hope the major selling is about exhausted especially since money is moving out of certain sectors into sectors that need the metals.