The Primary Trend in The Gold Market

The wiggles and trading dodges can tend to obscure the intermediate trend in the price of gold.

Stocks and Precious Metals Charts - Life on the Tails of Risk - Stocks Rally (Again) on Willful Trade Optimism

"Narcissus so himself, himself forsook,
And died to kiss his shadow in the brook."

William Shakespeare, Venus and Adonis


"Price discovery is not a sexy function of markets, but it is critical to the efficient allocation of scarce capital and resources, and to the preservation of the long term wealth of investors and the economy as a whole. If price discovery is compromised by manipulation, then we will all be gradually impoverished and the economy will be imbalanced and unstable."

London Banker, Lies, Damn Lies, and Libor


"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 0.3 percent on November 15, down from 1.0 percent on November 8. After this morning's retail trade releases from the U.S. Census Bureau, and this morning's industrial production report from the Federal Reserve Board of Governors, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth decreased from 2.1 percent and -2.3 percent, respectively, to 1.7 percent and -4.4 percent, respectively."

Federal Reserve Bank of Atlanta, GDPNow

We are drawing closer to a break in the markets, and perhaps a lapse in the prevailing economic and political narratives that have supported the predatory growth of the corporate oligarchy.  Hi ho.

Stocks reached new highs today on renewed optimism of trade talks and unicorns.

The havens including the Dollar and Gold were weaker.

We are approaching another blow off top for Wall Street compliments of the Fed and their Banks, and their mouthpieces in the financial media.

And no one will have been able to see it coming, right?

Have a pleasant weekend.

Stocks and Precious Metals Charts - A Gathering of Vultures - Stock Option Expiration Tomorrow

“Just as it was in the days of Noah, so will it be with the coming of the Son of Man.  People were eating, drinking, marrying and being given away in marriage, up until the very day that Noah entered the ark.  Then the flood came, and swept them all away...

And they said to him, 'Where will this happen, Lord?'  And He said to them, 'Where death is, there will be a gathering of vultures.'”

Luke 17:26-27, 37

Stocks were trading sloppy today, although once again they managed to finish up in the quiet afternoon trade to finish off their lows and unchanged.

Gold and silver were a higher as the Dollar was off a bit.

Tomorrow is a stock option expiration.

Things are going to continue to become very interesting.

"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.  Intellectual myopia, often called stupidity, is no doubt a reason.   But the privileged also feel that their privileges, however egregious they may seem to others, are a solemn, basic, God-given right."

John Kenneth Galbraith

Truer words were never spoken. 

Have a pleasant evening.