30 November 2023

Stocks and Precious Metals Charts - Gold Speaks Uncomfortable Truths

 

"For the game had never been fair, the dice were loaded. They were swindlers and thieves of pennies and dimes, and they had been trapped and put out of the way by the swindlers and thieves of millions of dollars."

Upton Sinclair, The Jungle

"Gold has worked down from Alexander's time. When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."

Bernard Baruch

“Absolute power does not corrupt absolutely, absolute power attracts the corruptible.”

Frank Herbert, Children of Dune

“Sometimes people hold a core belief that is very strong.  When they are presented with evidence that works against that belief, the new evidence cannot be accepted.  It would create a feeling that is extremely uncomfortable, called cognitive dissonance. And because it is so important to protect the core belief, they will rationalize, ignore and even deny anything that doesn't fit in with the core belief.”

Frantz Fanon

"The press is the hired agent of a monied system, and set up for no other purpose than to tell lies where their interests are involved."

Henry Adams, The Letters of Henry Adams

The equity markets were divergent today, with the SP500 moving higher, but the tech heavy NDX finishing decidedly lower.

Gold fell, as the Dollar rose sharply.

Silver rallied once again, in step more with the SP 500.  It has the appearance of a short squeeze.

VIX fell.

Have a pleasant evening.