The economic news this morning regarding new home sales and consumer confidence was fairly bad.
Gold and silver were rallying in the overnight, with gold hitting $1440, but alas, gold had reached a short term limit and took a hit during the day, dropping all the way to 1411, but bouncing back to the 1420s.
Did I mention that today was an option expiration on the comex? And yes it was.
But still, given the strength of the rally that the metals have shown in the past couple of weeks, who are we to complain?
I posted some thoughts in a chart on the longer term gold price last night. You can scroll down to it.
The Dollar bounced back a little today. But it probably has more correction to go after its own long rally.
We are going out for a hot pot dinner this evening. While my son was in London the past few weeks he and his girlfriend went to the new Hai Di Lao hot pot restaurant there. There was a 2 1/2 hour wait for a table late on a Thursday night, but he said it was worth it.
Hai di Lao is a global restaurant phenomenon that has made a fortune for its owners. There are over 3,000 locations worldwide, but alas, there are only three in the US, all in California. But there are some less prestigious but very good local places around the NYC metro area. It is a fun social or family event in addition to a good meal.
Need little, want less, love more. For those who abide in love abide in God, and God in them.
Have a pleasant evening.
