- The dollar sees some selling overnight
- Gold is something that you can hold in your hands…
Good Day… And a Wonderful Wednesday to you! What a gorgeous day it was yesterday for me down south… I sat out and read, for 4 hours! I even stayed out longer than my wife, who had been on the beach all afternoon! I actually got to watch my shows on TV last night without having to turn the volume to 50 so I could hear it over Kathy and her friend, Maria, talking! Our Blues were ahead of Washington 1-0 when I went to bed last night… War greets me this morning with one of my favorite songs: Cisco Kid…
The dollar drifted all day yesterday, as I suggested it would do without any real economic data to give it direction… The BBDXY ended the day in the same clothes as it wore to start the day at 1,209…
I told you yesterday that Gold could easily turnaround its early morning $4 loss, and it did just that! Gold gained $70 to end the day at $4,475. Silver also gained on the day $2.09 and finished the day at $71.36… The Bank of Montreal (BMO) issued a statement and the heading was: BMO says gold’s bull rally is not over, only paused during the Iran war…
Yes, while the short sellers, and consumers that are getting antsy and selling, are adding to the pressure that Gold is receiving, while Banks are not changing their stripes, and are still buying, because they know that inflation is rising no matter what false reports the BLS prints!
The price of Oil is being subjected to traders that are thinking that a truce or Peace if you will, is going to be reached between the U.S. and Iran…. I read where the Saudi’s are calling POTUS and telling him to prolong the war with Iran… Why? Because that would certainly move the price of Oil back to $100 and that would make the Saudi’s very happy…
The 10-year Treasury bounced around yesterday, and ended the day with a 4.34% yield… Since the 10-year is used to price mortgages, I can only think that housing sales are suffering right now with the higher mortgage rates….
In the overnight markets last night…. The dollar saw some selling and lost 2 index points in the BBDXY… So, we start our day with the BBDXY at 1,207… Gold & Silver have climbed back on the rally horse and start the with Gold up $110 and Silver up $3… I think this signifies that the rinse, spin cycle has ended for now… And with that Gold & Silver will be able to get back to rallying… Remember, with the SPTs… The wolf is always at the door!
The price of Oil has seen the Oil traders take it down by another buck overnight and starts the day trading with an $86 handle… I’m going to revisit what’s going on with Oil traders in a minute… But first, the 10-year Treasury starts the day with a 4.32% yield… There was an awful auction of Treasuries yesterday, and therefore I’m surprised that the yield on the 10-year remained docile… But it is what it is…
Here’s MarketWatch: “Typically, 2-year auctions go largely unnoticed, beyond the dealers and buyers involved in the roughly $30 trillion Treasury market. It’s often a place that safe-haven seekers and corporations look to park cash for a while and earn a bit of yield. The auction starts, buyers line up.
But Tuesday’s auction went “miserably,” making it hard not to notice, with yields on the policy-sensitive 2-year rate advancing 9.6 basis points during the session to 3.926%, its highest yield in nearly eight months, according to Dow Jones Market Data. The rate now is 45 basis points higher in 2026.”
Chuck again… I think I’ll look into getting some 2-year Treasuries! No reason to extend the maturity, there’s too much risk going on in longer bonds….
I received an email from the Reserve Bank of New Zealand last night that said: “Consumer still feel squeezed even with falling inflation”… Well, should the RBNZ need another opinion as to why this is, they can consult me. For, I would tell them that the prices went up during inflation and they are coming back down… That’s why concert tickets from the 60’s cost $5, and now cost $100’s of dollars! Over the years, prices went up for a particular reason and never came back down.. And then you add the new higher price and the rinse, spin cycle goes on and on..
When I first began to drive in 1971, gas stations had gas wars, and I could get gas for my car at 22-cents for a gal… See what I’m talking about here? I’m sure that most of you figured this out a long time ago, but prices had remained steady Eddie for about 10 years and that put everyone at ease, and they forgot that they were paying a higher price for “X” than they were 10 years ago..
Shoot Rudy, I’ve really carried on about inflation and sticky prices this morning. TMI! Ok, we’ll move on to something else… Want a laugh? The Reserve Bank of New Zealand also sent me an email announcing that they have commenced recruitment for the role of Assistant Governor Financial Stability. And, the first thing I thought of was: “I wonder if they would consider me, especially if I tell them I need to work from my place in S. Florida! HAHAHA! Me as a red tape bureaucrat… Now that would be a scene!
And this should send shivers down your spine…. Heartland Institute vice president Justin Haskins warns that…”most investors no longer directly own their securities. Instead, they hold what the law refers to as a ‘security entitlement.'”
You see, your brokerage is the registered owner. You are the beneficial owner.
Legally, you only hold a claim inside a custody chain.
And under Article 8 of the Uniform Commercial Code, your securities can be taken as collateral against your brokerage firm’s debts.”
Chuck again… that was a roundabout way of saying you actually own physical Gold & Silver and can hold it in your hands and not have to worry about your brokerage House going under…. Remember in 2008, even the vaunted Merril Lynch had to be saved by Bank of America… So, don’t say it can’t happen….
The euro closed yesterday’s U.S. trading with a 1.16 handle… And the rest of the currencies went along for the ride… Well, most of the currencies… The Japanese yen got hammered last week while the dollar performed pet tricks and rose… And now that the dollar is falling back into the underlying weak trend, yen remains trading with a 158 handle, and that’s a rounding error from hitting 160… I’m just saying!
And… We didn’t expect them to accept negotiation, and they didn’t! But the Oil traders seem to think that a peace accord will happen anyway…. Wait! What? Yes, the Oil traders pushed the price of Oil down $5 overnight, and this after the Iranians rejected Trump’s talk of negotiation…. Oh well, they will get the message sooner or later…. At least I hope they do!
The U.S. Data Cupboard is still void of real economic data… We will see the Feb print of Import Prices and they should show a big increase from Jan’s print… But it won’t be market moving, so once again I ask then why print them?
To recap… The dollar drifted yesterday and ended up in the same clothes it wore to start the day…. Gold turned around its early morning loss of $4 and ended up $70 on the day…. Silver ended up $2.09 on the day… The Saudis aren’t happy to hear that their could be a peace settlement between the U.S. and Iran… In Chuck’s thoughts the Saudis don’t have anything to worry about there…. And should Chuck apply for the job at the Reserve Bank of New Zealand? Only if he can do his job from his place in S. Florida!
For What It’s Worth… this will be a real short-n-sweet FWIW article today, as my pickings were slim… But this one is well worth reading and it’s about Central Banks using Gold to manipulate currencies, and it was sent to me by the good folks at Gata… I think you can get there by clicking here: The very purpose of government gold reserves is currency market rigging | Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market
Or, here’s your snippet: “Since its founding in 1998 GATA has maintained that governments and central banks use gold for rigging the currency markets — sometimes openly and sometimes surreptitiously, to deceive investors and other governments and central banks.
The Reserve Bank of Australia used to acknowledge candidly in its annual reports that currency market rigging is the very purpose of gold reserves. “Foreign currency reserve assets and gold,” the Reserve Bank’s 2003 report said, “are held primarily to support intervention in the foreign exchange market”:
https://www.rba.gov.au/publications/annual-reports/rba/2003/pdf/2003-report.pdf
Today, as seen below, Bloomberg News acknowledges this purpose in regard to Turkey, on the basis of anonymous sources. Will Bloomberg or any mainstream news organization ever acknowledge this purpose in regard to the United States, its allies, and other major powers and begin posing critical questions about it? Or must currency market rigging questions be reserved for lesser countries, like India, whose use of U.S. dollar derivatives for surreptitious currency market intervention was considered reportable by Bloomberg the other day?
https://www.gata.org/node/24578
For that matter, will the gold and silver mining industry itself ever openly recognize that its products are primarily money that competes with government-issued money, and start acting accordingly?”
Chuck Again… this was very interesting and add to that the fact that the RBA admitted it…. I can see Fed/ Cabal/ Cartel chairman, Powell, standing before Congress and telling them that the Fed Heads helped the PPT in manipulating the dollar…. And everyone in congress, scratching their respective heads in confusion…
Market Prices 3/25/2026: American Style: A$ .6973, kiwi .5826, C$ .7250, euro 1.1606, sterling 1.3414, Swiss $1.2675, European Style: rand 16.8559, krone 9.7344, SEK 9.2926, forint 335.68, zloty 3.6769, koruna 21.0611, RUB 80.92, yen 158.86, sing 1.2787, HKD 7.8172, INR 93.97, China 6.8968, peso 17.71, BRL 5.2324, BBDXY 1,207, Dollar Index 99.24, Oil $86.84, 10-year 4.32%, Silver $73.44, Platinum $1,987.00, Palladium $1,148.00, Copper $5.51, and Gold… $4,585
That’s it for today… Another Chamber of Commerce day is expected down here in S. Florida today… Hey! Our Blues shutout the Capitals last night on home ice 3-0! Boy, this team is getting hot late, but will they have enough games left to make the playoffs? And tonight Baseball’s regular season begins, with just one game, the real Opening Day, which should be a holiday, starts tomorrow… My beloved Cardinals open at home, and it’s supposed to be in the 90’s for the game… And then the 50’s the next day, ahhh, good old St. Louis weather! I just hope it gets warm for when I return home next week… A couple of years ago we came home for Easter, and it was cold, so we turned around and came back here until May! Billy Paul takes us to the finish line today with his great 70’s song: Me & Mrs Jones… I hope you have a Wonderful Wednesday today and Please Be Good To Yourself!
Chuck Butler