- The dollar continues to get sold overnight
- Adam Sandler greets us this morning…
Good Day… And a Wonderful Wednesday to you! Well, yesterday was kind of a washout for me, as I slept through the day… I know I’ve told you this but I truly believe that your body tells you when you need sleep… And apparently, I needed sleep! I woke up in time to hear little Evie running through the house upstairs… She came over to “help” Kathy prepare for Thanksgiving… Yeah, help… as if! My beloved Mizzou Tigers Basketball team won their game last night by 33 points! The great Al Stewart greets me this morning with his song: Time Passages…
Pfennig Tradition calls for the Thanksgiving song by Adam Sandler: Love to eat turkey
‘Cause it’s good Love to eat turkey Like a good boy should ‘Cause it’s turkey to eat
So good
Turkey for me
Turkey for you
Let’s eat the turkey In my big brown shoe
Love to eat the turkey At the table
I once saw a movie With Betty Grable
Eat that turkey All night long
Fifty million Elvis fans
Can’t be wrong
Turkey lurkey doo and
Turkey lurkey dap
I eat that turkey
Then I take a nap
Well, the dollar selling stopped in the overnight markets Monday night.. As I reported yesterday, the dollar has lost 3 index points to 1,223… And that’s where it remained the rest of the day. And I mentioned the SPTs always being at the door like the wolf, and there they were at the COMEX with arms full of short Gold paper trades… Gold’s $14 gain early in the morning turned into a loss on the day of $4… Silver didn’t avoid the SPTs and ended up gaining 11-cents, after being up 31-cents at the start of the day. I have something for you regarding Silver in the FWIW section today, so you’ll not want to miss that!
The price of Oil bumped back higher to trade with a $58 handle yesterday, and the 10-year Treasury’s yield held onto the 4 handle for yield, ending the day right smack dad on 4.00% yield.
In the overnight markets last night… Once again, the dollar got sold overnight and sits this morning with the BBDXY at 1,222… The euro continues to remain in the 1.15 handle although yesterday it inched toward the 1.16 level only to be brought back to the mid-1.15 handle. The currencies, as a whole, have remained stuck in the mud, as the dollar is kept above the 1.20 level in the BBDXY. The two currencies showing any pulse at all are the Chinese renminbi and the Russian ruble… The two currencies from the two countries that at odds with the U.S.
I don’t know if you’ve noticed or not, but the Chinese renminbi is trading around 7.07… However, it’s still miles away from its 2022 level of 6.23… So, this stronger renminbi is welcomed, it needs to get going to get back to 2022 levels!
The price of Oil remained in the $57 handle overnight, and the 10-year’s yield saw a bump higher to 4.01%… Gold is up $22 to start our day, and Silver if up 56-cents… Silver has gone over the $52 handle this morning… Make sure you see the FWIW article today on Silver…
Well, the Reserve Bank of New Zealand (RBNZ) cut their Official Cash Rate 25 Basis Points last night, even though inflation rose to 3% in New Zealand… The RBNZ says that the economy has a lot of slack in it and so they believe inflation will drop in 2026… Hmmm… Seems to me that they would wait to cut rates until they actually saw inflation drop… But then I think logically, something that I would never accuse a Central Banker of doing!
I think that New Zealand dollar Traders had already priced in the rate cut, as kiwi fell previously to a 56-cent level… and the new rate cut didn’t budge kiwi from that level… At least initially that is…
The Big hoopla these days, i.e. Cisco, and the dot.coms , is Artificial Intelligence or AI… Well, I just have one question for the hypsters selling AI… and it centers around this I found on www.oilprice.com “The exponential energy demand of AI-driven data centers, particularly from high-performance accelerated servers (GPUs and ASICs), is rapidly outpacing global energy efficiency trends, leading to a projected doubling of data center electricity consumption by 2030.
Despite major tech companies’ net-zero pledges, the sheer velocity of the AI buildout forces a reliance on reliable baseload power from fossil fuels like coal and natural gas through 2030, with nuclear power viewed as the long-term, carbon-free solution.”
The question is : Where will all the power to run AI come from? I’m just asking…
The U.S. Data Cupboard was chock-full-0-data yesterday.. Stale, old data, but data to mull over and make a call on whether it’s useful for not… One piece of data that I call the STUPID Consumer Confidence report printed for this month, so it’s up to data, and fell to a level that hasn’t been seen since COVID… Retail Sales for Sept were up .2%, no biggie, and in a “back to school sales month too” And PPI for Sept was 2.9% annual… remember PPI is wholesale inflation and it is a good indicator of what the STUPID CPI consumer inflation will be when it prints… wholesale inflation feeds consumer inflation…
To recap… The dollar quit getting sold yesterday as soon as the U.S. took over from the overnight markets where the selling had taken place. And the SPTs took a chunk out of Gold and caused it to lose $4 on the day… the two currencies showing any pulse are the Chinese renminbi and the Russian ruble… Go figure, that they are the two currencies of the countries at odds with the U.S. Hmmm…. I don’t know what to make of that at this moment, but something tells me that there’s something there… I’m just seeing it…
For What it’s Worth… Well, I told you above that I had something for you regarding Silver and this is it… I learned something new here that India was the World’s second highest consumer of Silver! Who knew? Oh well, you can find the article here: Could India Be the Straw That Broke the Silver Camel’s Back?
Or, here’s your snippet: “Could India be the straw that broke the silver camel’s back?
Most people associate India with gold, but the country also ranks as the world’s top silver consumer.
As we reported yesterday, one of the reasons for silver’s surge to record levels in recent days is a shortage of available silver in London. This is being partly driven by voracious demand in India.
India’s silver market reveals deep structural problems indicative of the broader global market.
Simply put, there isn’t enough silver. And risks of a major blowup are mounting.
Demand for silver in India began to surge earlier this year after the white metal zoomed to new all-time highs in rupee terms.
With growing investor interest in silver during an environment when gold seems pricey, a silver supply shortfall in India also sent the price to a significant premium locally.
Supply simply can’t keep up.
Initially, Indian buyers were primarily sourcing silver from Hong Kong, but they reportedly shifted more toward London during the Chinese Golden Week Holiday in the first week of October. This has exacerbated the silver shortage in London.”
Chuck Again…I’ve been reporting the shortage in Silver for 10 years, and it has always worked out, but this time we may see Silver really react to the shortage of supply… I guess we’ll see, eh?
Market Prices 11/26/2025: American Style: A$ .6490, kiwi .5671, C$ .7097, euro 1.1571, sterling 1.3182, Swiss $1.2391, European Style: rand 17.1503, krone 10.2314, SEK 9.5331, forint 330.24, zloty 3.6567, koruna 20.0340, RUB 78.57, yen 156.50, sing 1.2984, HKD 7.7778, INR 89.2725, China 7.0797, peso 18.37, BRL 5.3854, BBDXY 1,222, Dollar Index 99.83, Oil $ 57.83, 10-year Silver $52.29, Platinum $1,566.00, Palladium $1,432.00, Copper $5.17, and Gold… $4,155
That’s it for today and this week, as tomorrow is Thanksgiving… I don’t know about you, but I love to hear Adam Sandler sing the Turkey Song, he has made me laugh for 35 years as a part time cast member the show: Remote Control… My beloved Mizzou Tigers play their last regular season football game on Saturday for the Border Trophy with Arkansas… And my first grandson, Everett will celebrate his 14th birthday… Everett normally doesn’t say much around me, but a couple of weeks ago, he talked my ear off! I was stunned! Trooper takes us to the finish line today with their 60’s hit song: Round, Round We Go… I hope you have a Wonderful Wednesday and a Blessed Thanksgiving, and Please Be Good To Yourself!
Chuck Butler