There will be an option expiration on the Comex for the May Contract on Monday.
We will be rolling over from April to June next week for the front contract.
Gold and silver were hit today as money was somewhat desperately piling into equities.
I say desperately because while the Nasdaq set a new all time high, declines were leading advances, and volumes were light. In other words, it was a selective rally in heavily weighted stocks that can move the indices, especially those that are big name tech heavy.
There is quite a bit of mispriced risk in the markets now. And we can certainly look no further than the Fed and the regulators when the time comes to thank someone for the bitter consequences.
There was new intraday commentary on neoliberalism in economics here. It may help you to understand what is behind some of the odder policy choices and political actions being taken today.
There is quite a bit of big money momentum behind this neoliberal agenda. The goal is to overturn all of the New Deal reforms and programs, and bring the world back to the late 19th century world of monopolies and robber barons. And they are doing a good job of it.
They are partnering up with the so-called neo-conservatives, who were really the far left statists who became disenchanted with Stalinism and went clear around the socio-political wheel to statism of the far right.
What do they have in common? They both worship power, and their religion is greed.
The world has been here many times before. While the spirit of life is resilient, so is the dark impulse to try to make ourselves as gods over our fellows and the earth.
Have a pleasant weekend.
