NAV Premiums of Certain Precious Metal Trusts and Funds

Both gold and silver were hit at The Bucket Shop this morning, but gold snapped back more quickly.

I bought a little silver.  The metals may have a tough time until they can break out of this price fixing.

Gold Daily and Silver Weekly Charts - Dog Days of Summer

"Justice will eventually overtake the fabricators and false witnesses.

There is nothing permanent, except change. Change alone is unchanging."

Heraclitus

Today was very quiet in the US markets.   Even the weather seemed to conspire in it, quietly baking metropolis in a still Summer heat.

Gold and silver popped early on the weaker than expected Empire report, and then drifted lower on the general lack of interest in The Bucket Shop by all except a small group of professional sharpers, shills, and hapless tourists.

Even the dollar moved sideways.  All is calm in the Pax Americana.

Change very difficult for people to accept sometimes, especially when they have worked long and hard to set things up for their own advantage, and they think that they are winning.

Change is coming. It is coming for you, and for all of us.  Slowly but surely, change is the only certainty.

And the last shall be first, and the first shall be last.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Lazy Day In the Heart of Empire - The Summer Wind

Today was a very sleepy day in the markets, as the NYC metro area bakes under a hot Summer sun and temperatures in the high 90's.

The Empire Manufacturing number this morning was unexpectedly very negative, unexpected at least to the mainstream economists.

CPI and the FOMC minutes will be out in midweek.

But that did not really matter, and stocks flowed higher on the lazy, convictionless trade as it is often wont to do when the wiseguys are setting up a wash and rinse.   There will be a minor option expiration this week.

People may go on vacation, but crime never sleeps.  One thing of which we may be proud is that our financiers and politicians are never too lazy to steal.  They take a professional pride in their work.

Have a pleasant evening.