Loading ...Looks like the Crimex has to take on London’s mess this am. Question is whether the Crimex has enough problems of their own with silver. If not, we may be looking at a runaway train again today.
I didn’t think we’d hold the overnights, but we instead got stronger. Silver up a nice, soothing $.60 this am, Gold up $19 and it appears they are strengthening.
I guess the dollar being flat – and not up, gave punters the go ahead. SM is weak, 10 yr. up another 2 bips to 4.2%, Oil up near $71, Bitcoin flat. PM shares firm, but not as strong as they were yesterday am.
Believe it or not, and I’m not saying it will happen, but I could see us run up to the $36, even $38 area very quickly. I’d think that might drag gold up to $2800. I know it sounds like crazy talk, but the only thing standing between us and higher prices is the dollar, which is even more overbought than silver. The dollar is staring down at a double top that stretches back to June.
How strong are we that we are rallying in the face of a strong dollar and higher rates? Seems maybe western fiat currencies are losing their luster. BRICS meetings started today and go until Thursday. Are we going to sell the news, or are they going to break our fiat?
The Fed can’t like rates rising here, that’s a big problem for them because US debt is unsustainable. Something’s gotta give.
Crimex opens in an hour. They have their hands full.