Loading ...Metals getting whacked, although not as bad as they were earlier. Still not good. Some of the damage in gold was done after the close on Friday. They took gold down about $8 to right around $2650. Silver taking a bigger hit as is the norm, it’s bounced off $30 in the overnights but not surging back. The shares look weak. I suppose even if there weren’t much of a reason for tax loss selling, they are going to create one anyway. Such is the life of anyone who holds a mining stock.
Oil bucking the trend, up 1%. Bitcoin down over 2%, but that’s after being higher over the weekend, so still above $95K. Crypto of all sorts went ballistic this weekend, Litecoin up 25%, XRP (ripple) up even more. XRP has doubled in the last week since Gensler resigned. Who knows where this stuff is going, it’s in a mania now, the elusive mania we thought we would have at some point over the last 25 years.
SM a little lower. Asian markets were strong overnight, Europe flat.
Dollar up 1/2%, rates up 4 bips. So, after a brief 3-day selloff, the dollar is back in charge and bonds experiencing “tax loss”
Let the games begin.