- Currencies & metals get sold like funnel cakes at a state fair on Friday
- Who in their right mind would be buying dollars?
Good Day… And a Marvelous Monday to you! I had a crappy weekend, health wise, I just didn’t fell right… But then what do I expect having put poison in my system for over 18 years… Don’t feel sorry for me, it is what it is… I carry on, because, as I told a doctor a year or so ago… I’m going to live to see my granddaughter walk down the aisle, to see my grandsons grow to be wonderful young men, and little Evie to become my best buddy… Delaney is 18 now, and will be going away to college next fall, so I’m holding on… Can you believe that? My little d is 18! I recall sitting at a booth in Vancouver showing customers that asked about her, pictures of her when she was 3…. The Patti Smith greets me this morning with her hit song: Because of The Night…
Well, Ed Steer said it best in his Saturday letter: “Da Boyz’ Carpet Bomb the Precious Metals”.. I questioned whether or not the STPs were relevant last week, but I guess they proved that to not be…. Gold was up $118 on Thursday last week, and it appeared that Gold had all the momentum to rise further on Friday, but Friday the SPTs came at Gold & Silver with a vengeance that I’ve seen only a couple of times previously… At one time Gold was down $111 on Friday, but fought back to show a loss of $75, and close the week at $4,250. Silver was also treated like rented mule o Friday, after gaining $1.13 on Thursday, Silver was sold short to the tune of a $2.25 loss on the day… Siver had gotten as high as $53.76 before the SPTs went to work… Silver closed down $2.25 on Friday and ended the week at $51.86… it was, without saying, a very ugly day for the metals…
Platinum lost $101 on Friday and Palladium lost $144!!! Copper was immune to the SPTS and lost $3… UGLY… VERY UGLY! And leaves the question: Have the SPTs done enough to scare away the buyers of these metals? I doubt it… Which means we’ll be subject to more days like this in the future, but keep in mind that these are paper trades and have nothing to do with physical metals (expect the price) and the momentum that Gold and Silver have right now is tremendous… I’m just saying
The dollar drifted around late last week losing 2 index points on Thursday and then being stuck in the mud on Friday… The dollar is in deep dookie folks… and while it will take a bit to get the dollar back to the sub 1,000 level again, it will get there, I can feel it in my bones…
One currency is bucking the dollar buying and that is the Swiss franc… which tells me that a flow to safe havens is on… I’m just saying…
The price of Oil slipped a buck on Thursday, and gained 50-cents on Friday to end the week trading with a $57 handle… And the 10-year Treasury’s yield fell below 4% at 3.97% on Thursday, but then came back to end the week on Friday with a 4.01% yield..
In the overnight markets last night… there was some dollar buying, (who in their right mind?) and the BBDXY has gained 2 index points overnight, to start our day/ week at 1,209… Gold is up $13 to start our week today and Silver is up 13-cents… After the Armagedón last week in the metals, they have to stop and pick up the pieces and start their momentum all over again and today is the best day for that!
The price of Oil remains trading with a $57 handle, and the 10-year is starting the week trading with a 4.01% yield…
I found this on Zerohedge.com this past weekend… “A month after bankruptcies of subprime auto lender Tricolor and auto-parts supplier First Brands, new cracks emerged in U.S. credit markets. This week, Zions and Western Alliance disclosed they were victims of loan fraud tied to funds investing in distressed commercial real estate. The revelations come amid broader credit trouble, and shifting our focus back to autos, there’s new data this morning about credit products tied to the riskiest consumers that have seen a 50% surge in delinquencies.”
Oh-no! Say it ain’t so Joe! Don’t tell me the rot is already starting… But it sure appears that way, Tricolor and First Brands were not your run-of-the-mill companies, they were HUGE… This is how it gets started, folks… remember 2007? We had some smaller companies bite the dust and then suddenly Lehman Brothers folded, and the debt crisis was on!
I still get upset with the Gov’t for allowing Lehman Bros to fold… You see Bear Stearns went first, but the Gov’t negotiated a buy from J.P Morgan and Bear Stearns no longer existed… but no negotiated deal for Lehman Brothers… I guess it all depends on who you know, right? Or whom you have pictures of…
Well, the IMF Is throwing their two cents around and hoping that the world will take notice… The IMF recently said that the U.S. economy was still vulnerable to tariff shocks, and labor shortages tied to immigration crackdown could also sting. They also mentioned that 1 million refugees will leave the U.S. in the near future… Good riddance, right? not so fast there, who’s going to do the dirty jobs that these guys do? Not Terrance the III… He’s going to college to learn waiting on people… I don’t like the influx of foreigners in the country, but until they are stopped, what are we going to do about it?
And I found this on MarketWatch, “The numbers: Americans have soured on the prospect of finding new jobs, a new survey shows. And they’re still frustrated by persistent inflation, giving them little confidence that the economy will improve soon.
The first reading of the consumer sentiment survey in October was basically flat at 55.0, the University of Michigan said Friday. The index has been hovering at levels typically experienced during recessions.
Chuck again… typically experienced during recessions. Now that hit a nerve with me, how about you?
The Gov’t is still shutdown, and therefore the Data Cupboard is barren most days, with non-government issued data the only prints…Like today, we’ll see the color of the latest Leading Indicators for Sept… This data set has been printing negative for so long now, I would be shocked to see a positive print!
To recap… There was another engineered takedown of the metals on Friday last week that left a bad taste in the mouths of metals holders… Gold was up $118 on Thursday and down $75 on Friday… Tell me, can you honestly say that there’s no such thing as manipulation going on? Gold & Silver try to pick of the pieces and star their momentum again today as both are positive to start the day. The dollar got bought overnight, and Chuck wants to know who in their right mind bought dollars?
And the signs of Armageddon are all beginning to pop up, are you seeing what I’m seeing?
For What It’s Worth… Ok, I saw this headline and immediately copied it and sent it to Frank Trotter, and Chris Gaffney… and said, “Can you believe that we used to tell people to do this 20 years ago?” This is about the change of allocation in investment portfolios and it can be found here: A 20 Percent Portfolio Allocation to Gold and Silver Is Going Mainstream
Or, here’s your snippet: “In a seismic shift, Morgan Stanley CIO Michael Wilson recently came out with an investment strategy that includes a 20 percent allocation to gold.
Now a Sprott executive has followed suit, telling a mainstream financial network’s audience that investors should consider shifting from the traditional 60/40 portfolio to a 60/20/20 allocation.
This isn’t typical messaging on mainstream financial networks.
Historically, the conventional wisdom on Wall Street was a 60/40 portfolio, with 60 percent of the holdings in equities and 40 percent in fixed-income investments, primarily bonds. The theory is that these asset classes balance each other, with stocks strengthening in a strong economy and bonds creating a hedge during downturns.
However, bonds have lost their safe-haven status in recent months. Last spring, at the height of tariff uncertainty, gold and silver rallied as bonds sold off. Gold and silver seem to be the last safe havens standing.
Given the changing market dynamics, Wilson said investors should consider a 60/20/20 strategy, swapping half of the bond portfolio for gold to serve as a “more resilient” inflation hedge.
In an interview on CNBC Tuesday (Oct. 14), Sprott director of ETF management Steven Schoffstall echoed Wilson, saying a 20 percent allocation to gold and silver will likely yield a better return than the traditional portfolio.
He noted that the pivot toward a lower interest rate environment with the Federal Reserve now in a cutting mood will likely benefit the metals.
“Gold’s always traditionally been viewed as a safe haven for economic turmoil, geopolitical instability, things that we’re seeing right now, because it doesn’t have a yield. Generally, falling interest rates are beneficial for gold. That’s when we see a lot of investors start to move into gold.”
Chuck again… Yes, and in addition, we told people to properly diversify their portfolios they needed to have asset classes that didn’t have anything to do with the stock and bonds they already had… That meant… Gold, Silver, currencies…
Market Prices `10/20/2025: American Style: A$ .6488, kiwi .5728, C$ .7125, euro 1.1648, sterling 1.3401, Swiss $1.2610, European Style: rand 17.3343, krone 10.0786, SEK 9.4345, forint 334.49, zloty 3.5455, koruna 20.8476, RUB 80.98, yen 150.97, sing 1.2947, HKD 7.7703, INR 87.93, China 7.1234, peso 18.41, BRL 5.4099, BBDXY 1,209, Dollar Index 98.58, Oil $57.09, 10-year 4.01%, Silver $52.01, Platinum $1,621.00, Palladium $1,470.00, Copper $4.98, and Gold… $4,263
That’s it for today… I had to go for scans yesterday (yes, Sunday!) as it was the only day/ time I could get in at the hospital close to me… I’m sure they will be clean… otherwise I’m making myself sick for no reason! I’m here all week, try the veal, and make sure you tip the wait staff! Next week will be different, but that’s then not now… Congrats to the Dodgers they swept the brewers, and they will be the national league representative in the World Series… The Blue Jays and Mariners will play a game 7 tonight… talk about pressure! Big Country takes us to the Finish Line today with their 80’s song: In a Big Country… I hope you have a Marvelous Monday today, and Please be Good To Yourself….
Chuck Butler