Gold Daily and Silver Weekly Charts - The Green Fields of France

“Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.”

Nassim Nicholas Taleb, Antifragile


"When the rich wage war, it is the poor who die."

Jean-Paul Sartre

As I have noted previously, at times the precious metals trade as currencies, without regard to their significant supply and demand conditions as commodities.

The forex market is notorious for overextending trends, and as acknowledged of late by some, of instances of price rigging.

The Fed and the central banks do own a printing press.

But these days the gold in which their Banks traffic often has merely the appearance of solidity, appearance magnified and leveraged by paper.

Tomorrow we will have a look at Non-Farm Payrolls for October.

These things develop slowly over time, and forecasting their ebbs, flows, and break points is not possible.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - And Goodnight Mrs. Calabash, Wherever You Are

After the bell Disney beat earnings and missed on revenues.

The market is skittish as reflected in the ranging price, but perhaps it is not fully reflected in the volatility measures.

Tomorrow may be an interesting day.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - Smackdown

"But he saw too that in America the struggle was befogged by the fact that the worst Fascists were they who disowned the word 'Fascism' and preached enslavement to Capitalism under the style of Constitutional and Traditional Nativist American Liberty."

Sinclair Lewis, It Can't Happen Here

Gold and silver were taken lower in further programmed selling in New York today.

Gold is testing the 1100 support level and silver is trying to hang on to the 15 handle.

What was most impressive is that they managed this selloff on a day when the rest of the markets could not make up their minds what to think.  And there are now trial balloons being floated about 'negative interest rates' and 'killing cash.'

There was intraday commentary on gold and silver here.

Nothing much in the way physical activity happened in The Bucket Shop.   Just the usual slow leakage of bullion.

Non-Farm Payrolls on Friday.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Bipolar Interest Rate Psychosis

The markets cannot quite seem to know what to do and where to go these days. Perhaps that is what happens when they diverge from reality, and begin to live in the shadows of the bipolar Federal Reserve that one day sees an improving economy demanding higher interest rates, and the next a slump that opens the door to draconian regime of negative interest rates.

I know the Fed's game is to keep the markets guessing. The problem with this is that it is hard to tell what these jokers will do next, because the thought leaders of this glorious republic are caught in a massive credibility trap in which black is white, war is peace.

Oh well, tomorrow is still another day. And we have the drama of the Non-Farm Payrolls ahead of us, sure to be seasoned with the numerical slant du jour.

Have a pleasant evening.