- metals get taken down again on Tuesday
- Who’s selling and what, paper?
Good Day… And A Wonderful Wednesday to you! I don’t know how it happened, but I basically slept most of the day on Tuesday… I had told you that there was something wrong, and the fact that I kept falling asleep was proof in the pudding… There’s just “something” that’s awry with me and I can’t pinpoint it. My vitals are fine, so I guess I’ll have to find out tomorrow when I visit my oncologist. Our Blues have been a hit and miss team to start the season, and last night they lost in overtime. UGH! The Rolling Stones greet me this morning with their song: Can’t You Hear Me Knocking…
Well, the carpet bombing took place again on Tuesday, that’s 2 of the last 3 trading session, with Gold recovering its losses on Friday with Monday’s $107 gain… But yesterday, the SPTs made sure it would take Gold a few days to recover its loss of $233… Gold closed yesterday at $4,124… Silver took in on the chin, the gut, the cheek and everywhere else it would hurt to take a hit that caused a $3.70 loss… Silver closed the day at $48.74 … this is even a little too much for the SPTS alone and therefore, I looked for something else that would tell me what the hell went on yesterday, and I found it, and you’ll find it in the FWIW section today…
The dollar didn’t move yesterday after its 3-index point gain overnight and ended the day at 1,212… No dollar manipulation yesterday… But on the day, it gained the 3-index points from overnight, so it had that going for it… Don’t look for any outliers in the currencies for there aren’t any that haven’t lost a pound of flesh to the dollar…
The price of Oil remained trading with a $57 handle, and the 10-year’s yield dropped a bit more to 3.96%…
In the overnight markets last night…. There was more selling of Gold & Silver, and once again, who’s selling? And is it paper or metals trading? From the looks of it, it’s more “dash for cash” with the SPTs joining in to make it look ugly once again… Gold is down $82 to start the day, and Silver is down 72-cents… I read this morning that the drops yesterday for Gold it was a worst one-day drop in years, but… the long-term uptrend for Gold remains solid… That’s little solace for those that hold the metal and are wondering about its future… Just remember you bought Gold as a store of wealth, and it remains a store of wealth, no matter what the SPTS do to its price…
The dollar bumped higher by 1 index point in the BBDXY overnight, to start our day at 1,213… The euro has dropped below the 1.16 handle, and the rest of the currencies are in their respective sick beds… The one currency that hasn’t succumbed to the dollar buying is the Chinese renminbi… But that’s another huge pile of cards to go through… that… we’ve gone through previously, so no need to rehash it now…
The price of Oil bumped higher to trade with a $58 handle this morning. You know, I read a piece a while back that I was going to bring forward but completely forgot about it.. The piece talked about the shale Oil guys and how they needed a least a price of $60 for Oil to make a profit in their Oil production… We’ve been below $60 for some time now, and I wonder if they just shut down or go into low production mode during this time… Any Oil guys out there want to chime in?
And the 10-year Treasury saw another basis point of yield go to the wayside overnight, and it begins our day with a 3.95% yield… From the looks of everything this morning, I just want to go back to sleep and fuhgeddaboudit…
I think I was so susceptible to the sand man yesterday, because, deep down, I didn’t want to watch what was going on in Gold… And speaking of Gold, yesterday, I told you about a video of Warren Buffett telling us bad things about Gold… And later I received a note from an astute reader who told me it was fake, that he really didn’t say those things… So, I was glad that I didn’t get any requests from readers to send it to them… They must have known! Dang AI… When will we know for sure what’s real and what’s AI?
And the Good Folks at GATA sent me the following: Who’s selling today, and what – metal or paper? The Mainstream Financial journalism won’t ask… and here’s a sample of what they were telling their readers: “Market analysts are searching for an explanation for today’s bombing of gold and silver prices. For example:
Gold and Silver Prices Slide in Abrupt Selloff
And this from the WSJ…
The sudden fall in gold and silver prices lacks a clear trigger, XTB research director Kathleen Brooks writes. …
The fall is likely caused by stretched valuations and signals that U.S. CPI data could be softer than expected, she adds.”
And adds: “A slide in prices isn’t necessarily a bad thing as it shows that investors aren’t getting too far ahead of themselves and that there is a limit to gold’s exuberance, Brooks writes. While the decline has been more severe than expected, the fundamentals propelling gold and silver upward remain, she adds.”
Chuck again… See what the good folks at GATA are talking about? Not one mention of the paper selling going on… But what do you expect from today’s journalists? No one looks under the hood.. I’m just saying…
Hey, the POTUS signed a deal with Australia to get rate earths from them… It’s going to cost us $8.5 Billion… Oh well, fat chance that will get paid in real dollars, because real dollars don’t exist any longer! At least we won’t have to get them from China who is balking at sending them to us… Forget-about-them! If the boy want to fight you had better let them! (Thin Lizzy)
The lawmakers are acting like young children on the playground… You’re to blame, No, you’re to blame, no you’re to blame, no you’re to blame… Will the conflict ever be put to bed? Hey! Let it go to the next mid-terms and then we can kick out all those running for reelection and get in new buffoons who might be able to direct some attention to the plight of Consumers, and farmers… I like that idea… a lot!
To recap… It was a really ugly day for the metals yesterday, really ugly… I don’t know how to describe it without getting lewd, crude and socially unacceptable! And the journalist that cover the metals don’t have a clue, because they are told not to look under the hood here… I shake my head in disgust with these buffoons!
For What it’s Worth… It’s been a month of Sunday since I last quoted Danielle DiMartino Booth, as her service went to subscription based, but I found her on Kitco.com yesterday, and here’s her description of what went on yesterday in the metals and it can be found here: Ex-Fed insider warns of systemic ‘liquidity crisis,’ sees gold sell-off as a major ‘distress signal’ | Kitco News
Or, here’s your snippet: “A former Federal Reserve advisor issued a stark warning on Tuesday, arguing that a systemic “liquidity crisis” is already underway, a development she says will force the central bank to abandon its inflation fight not because it has won, but because the financial system itself is breaking.
The warning comes amid a period of pronounced market contradiction. On Tuesday, the Dow Jones Industrial Average gained over 200 points, fueled by strong earnings from companies like General Motors and Coca-Cola, pushing the S&P 500 to within fractions of its all-time high. This optimism stands in sharp contrast to the stress emerging in the fixed-income and commodities markets.
Danielle DiMartino Booth, who served as an advisor to former Dallas Fed President Richard Fisher from 2006 to 2015, says this divergence is unsustainable. Now the CEO of QI Research, a macroeconomic consulting firm, Booth has been a persistent critic of Fed policy, arguing the central bank’s actions have created deep-seated vulnerabilities.
“It certainly looks like the system is running out of sufficient liquidity,” Booth said in an interview with Kitco News. “And that the Fed is going to be forced to pull over to the sidelines.”
Her assertion refers to the Federal Reserve’s ongoing policy of “quantitative tightening” (QT), a program that has been removing liquidity from the financial system by letting up to $95 billion in Treasury and mortgage-backed securities mature off its balance sheet each month.”
Chuck again… This has always been my biggest concern with the metals, that when push comes to shove, the people that bought Gold & Sliver for a commodity and not a store of Wealth, will be the first to “dash for cash” when the going gets tough…
Market Prices 10/22/2025: American Style: A$ .6487, kiwi .5740, C$ .7129, euro 1.1587, sterling 1.3316, Swiss $1.2556, European Style: rand 17.4723, krone 10.0520, SEK 9.4379, forint 335.80, zloty 3.6514, koruna 20.9766, RUB 81.74, yen 151.76, sing 1.2990, HKD 7.7700, INR 87.93, China 7.1252, peso 18.40, BRL 5.3881, BBDXY 1,213, Dollar Index 99.08, Oil $58.03, 10-year 3.95%, Silver $48.02, Platinum $1,554.00, Palladium $1,429.00, Copper $4.96 and Gold… $4,042.00
That’s it for today… And this week… Sorry about tomorrow, but Dr. Appts go first! My beloved Mizzou Tigers travel to Nashville to play Vanderbilt on Saturday… A BIG Game for the Tigers because Vandy is ahead of Mizzou in the polls… The top 12 teams get into the College playoffs. So, Mizzou needs to keep going higher in the polls!
Sly and the Family Stone takes us to the finish line today with their big hit song: I Wanna Take You Higher… They performed that song at Woodstock and I will always recall how Sly Stone had on this white fringe jacket and raising his arms over his head and singing I want to take you higher! I hope you have a Wonderful Wednesday today, and Please Be Good To Yourself!
Chuck Butler