“We have been called to heal wounds, to unite what has fallen apart, and to bring home those who have lost their way. Blessed are they who love their brothers and sisters as much when they are sick, as when they are well and of service. And blessed are they who love their brothers and sisters as well when they are far away, as when they are close. When you leave this earth, you can take nothing that you have received, but only what you have given.” Francis of Assisi
HSBC delivered 94,500 ounces of gold bullion at 1228.70 from their house account to the market on Friday. I wonder if their house account includes their custodial activities.
In this case the biggest takers were the house accounts at Nova and JPM, and that big 'customer' at JPM who keeps standing for gold this month.
I just like to take the occasional note of these things.
Let's see if gold bottoms here for the short term and goes back up next week.
Silver 'owners per ounce,' which is the registered (deliverable) supply on the Comex compared to the total contracts for that silver that are open is elevated. And this is in a relatively inactive, quiet month for silver on that exchange.
Gold took a $20 hit after the European close today, moving down from 1250 to 1230.
And the theme of the day seemed to be 'buy paper, don't worry' with the pushing of the SP 500 futures, even though techs kept threatening to roll over here on weak to bad earnings reports.
Silver managed to hang on to the $17 handle which was very good news. I am watching the NDX for stocks and silver for the precious metals to get a better idea of where these asset prices might be moving in the short term.
The charts are fairly obvious if you look at them. Nothing new has really developed. Silver seems to have activated its cup and handle with the breaking out above the rim, and so far so good there.
Mary moved her fingers and toes on her right side this morning, her fingers while we were there last night for the first time. It was the prettiest thing I have ever seen. Next week we have a minor surgery to provide a permanent drain for her cerebral fluid called a 'shunt' and then hopefully she will be released to an inpatient rehab facility.
With the lack of fresh macroeconomic news today, it was the earnings that was driving equities, even though volumes remain somewhat low.
The tech sector in particular is not reporting the types of results that would reflect a growing economy. Instead the numbers show that the consumers are still struggling, both at home and abroad.
The financial sector heavy SP 500 seems to be hanging on a bit better, but the NDX with its tech weightings is starting to roll over. Indeed it was buying in the SP 500 futures that seemed to sustain the equities during the worst of today's declines, but again on low volumes.
There will be more earnings reports and macroeconomic news next week.
Volatility is rather low as measured by the VIX. But with these light volumes that could change in a Manhattan minute.
Let us pray for those whose hearts are hardened against His grace and loving kindness by greed, fear, and pride, and the seductive illusion and crushing isolation of evil.
We pray that we all may experience the three great gifts of our Lord's suffering and triumph: repentance, forgiveness, and thankfulness. And in so doing, may we obtain abundant life, and with it the peace that surpasses all understanding.
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