Author: admin

• now a 50 BPS hike is being discussed
• The SPTs tale prisoners//

Good Day…. And a Wonderful Wednesday to you! Well, I got my bag of liquids and a shot of B12, to help me… From the blood work I was dehydrated among other things… So, hopefully, the IV and B12 get me back to normal… Besides that, there was nothing else going on yesterday… No baseball, no football, nothing to keep me interested for long… I know that I said that I wouldn’t be writing today, but my appt got cancelled since I was there yesterday… So, that’s a good thing for me… as I don’t have to get poked by needles again… Little Feat greets me this morning with the live version of their song: Dixie Chicken… 

The dollar is on a warpath again and started yesterday with the STUPID CPI printing a much stronger inflation number than was expected, and that means that not only was in store for a rate hike on 12/9, but there are also more coming…  So, the dollar went on a warpath that took no prisoners, and gained 4 index points in the BBDXY to end the day at 1,227…

Gold and Silver got taken to the woodshed and were whacked.. Gold ended the day down $102 and closed at $4,034… Silver ended the day down $190 and closed at $52.41… I have admit that the thought that there will be more rate cuts surprised me at how much the moved the metals… But then I remembered that the SPTs were out there, and they made sure that Gold/Siver got oversold in the RSI once again… I shake my head in disgust that they are allowed to put these shorts on… Nolt only are more rate hikes are on the way… But another thought crossed the minds of everyone… The 12/9 rate hike could be larger than they expected… 

The price of Oil is in trouble… and ended the day with an $87 handle.. While the 10-year Treasury took the CPI number and ran with it… The 10-year sits this morning with 4.99%.. I knew that where the 10-year was yesterday wasn’t far from 5%, but C’MON! 

In the overnight markets last night… The dollar got bought some more and gained 2 index points and sits this morning at 1,229… This is ridiculous as the dollar is in trouble and the dollar trader are turning their collective backs on the fiscal problems that higher rates will bring us… 

Gold is up $10 to start the day, and Silver is up .77-cents.. To start the day today, before the dastardly SPTs step in… 

Now, if you’re interested in politics then you’ll have to go to another letter… 

What was up with the SPTs taking no prisoners again yesterday with Gold/Silver? I thought we entered a rally period for Gold/Silver… Maybe the chocolate cookies that my wife brought home to me last night will sooth the total dislike for the STPs… 

Or maybe Ed Steer telling you about the STPs will do the Trick… anyway, here’s ED… “Well, it didn’t matter whether the dollar index was falling or rising…or what the CPI number was, which I suspect ‘da boyz’ knew in advance…they were out to bomb the precious metals — and take back all of Monday’s gains in the process.

It was ‘mission accomplished’…plus more, in that regard. But with very light trading volumes in both silver and gold, the question has to be asked as to how well they did from a COMEX futures market perspective.”

Chuck again…well, that’s all that took place yesterday so onto the BIG FINISH we’ll go..

The U.S. Data Cupboard had the STUPID CPI to print and it showed us that inflation grew .4% in Rocktober but stayed at 3.9% annually…  I guess the propeller heads putting together this data thought that inflation will magically disappear a year from now… I don’t make this stuff up… 

And then all the Fed Heads out on the speaking circuit were talking about the rate hike and how they approved a 50 BPS rate hike instead of a 25 BPS hike… 

To recap…the dollar is on a warpath and that means the currencies are back in their sick beds… Gold/Silver got whacked by the SPTs again… And the STUPID CPI printed stronger than expected… 

For What It’s Worth…  I told you about the ugly 3-year auction yesterday, and that followed up by a very ugly 10-year auction and you can find information on that here:Ugly 10Y Auction: Foreign Demand Plummets, Directs Soar, Resulting In Biggest Tail Since February | ZeroHedge

Or, here’s your Snippet: “After a subpar 3Y auction on Monday, today’s 10Y auction – which followed another hot CPI print – was downright ugly.

Let’s start at the top: the high yield of today’s auction was 5.020%, which hit just as yields hit their peak for the day, with the 10Y rising more than 10bps above 5.0% for the first time in weeks. Still, this was a drop from last month’s 5.317% (which was the highest in over 2 decades), but tailed the When Issued 5.010% by 1 basis point, the biggest tail since February. And with the auction pricing north of 5%, the coupon on the auction would be 5%, the highest since 2006.

The bid to cover was also ugly: sliding to 2.468 from 2.771, this was the lowest coverage since May.

But the internals were even uglier: Indirects plunged from a near record 80.3% in October to just 61.2%, the lowest since October 2023, as foreign buyers staged a bit of a strike.

It meant that someone else would have to step up, and sure enough, Directs soared from 17.1% to 29.0%, the highest since September 2013!

Dealers were left holding 9.77%, the most since May.

Overall, this was an ugly auction…

… easily on of the ugliest of 2026, and all it took was one hot CPI print and two hawks to put bonds back in the driver’s seat, and that’s even ignoring the AI trade being back and once again draining demand for duration after a month of IG issuance that has blown away all records.

And since all key catalysts until the December rate hike are now done (except Friday’s PPI which we don’t expect will be much better), expect even more ugly auctions in the coming weeks.”

Chuck Again… this is becoming a real problem for Congress, who will want to spend like a drunken sailor but they won’t be able to because we haven’t sold enough bonds… 

Market Prices 11/11/2026: American Style: A$ .6861, kiwi .5833, C$ .7025, euro 1.1114, sterling 1.3399, Swiss $1.2049, European Style: rand 16.566, krone 9.5666, SEK 9.9703,  forint 328.12, zloty .9577, koruna 21.9057, RUB 82.87, yen 158.19, sing 1.2825, HKD 7.8434, INR 93.69, China 6.6857, peso 18.65, BRL 5.5557, BBDXY 1229, Dollar Index 102.55, Oil $87.36, 10-year 4.99%, Silver $52.88, Platinum $1,571.00, Palladium $1,101.00, Copper $6.22, and Gold… $4,044… 

That’s it for today… I know the letter is short, but, this was a last minute thing, so I have an excuse letter from my mom… Ha! My mom, she was a beautiful young lady, and had 7 kids… she was a saint… She was my greatest supporter… And I miss her…  Ok, enough of that… I hope you said thanks to a veteran yesterday, and maybe even told him or her that you appreciate their service…  War takes us the finish Line today with their Great Song: Cisco Kid… I always stop to sing along with this song. I hope you have a Wonderful Wednesday today and Please Be Good To Yourself!

Chuck Butler

• Ayn Rand Joins Us this Morning
• Tomorrow is Veteran’s Dau

Good Day… And a Tom Terrific Tuesday to you! Well, I made it up the stairs yesterday, you’d have thought I was a 90-year-old man watching me struggle up the stairs… But I’m going to the doctor today, she sent me a note that said she wanted to put a bag if IV in me… Well, something is up in AI or down I should say: A lack of a succession plan was thrown into sharp relief this week after Huang admitted to an affair with a woman suspected of spying on behalf of China.  Nvidia is the heart of the AI system, and its problems could spill over to the rest of the AI companies… This is not what I wanted to wake up to this morning… UGH! The Atlanta Rhythm Section band and their song: Imaginary Lover greets me this morning.. 

The dollar is having a tough time the past two sessions, and after the overnight markets brought the dollar down, the U.S. session brought it down 2 more index points in the BBDXY… This what I would expect to see, given that our fiscal situation is horrible and we just voted in some people that will make our last POTUS look like a saver…  and we all know he wasn’t one!

The price of Gold gained yesterday, while the SPTs tried to bring it down, Gold found a way to gain… Gold gained $28 on the day to end the day at $4,141… and Silver gained too, this time was $ 15 cents… Silver closed at $53.57…

The price of Oil slipped again yesterday with the price of Oil ending the day at $86.05.. This price of Oil will look to be on a roll again once the U.S. decided to retaliate and start this war with Iran again… Or, if the new party presses enough to get the POTUS to stop the war altogether then we may have a relief in inflation… The 10-year Treasury stayed at 4.87%. No Fed Head buying going on here yesterday. 

In the overnight Markets last night…  the markets were different in that they bought dollars and sold Gold / Silver. The dollar gained 1 index point in the BBDXY to 1,223.. No biggie…  and Gold starts today down $59 and Silver $1.04…. We can blame the SPTs because Gold had gotten to within its 50-day moving avg. Both Gold & Silver are above the oversold level in the RSI… And that’s a good indication that they are ready to rally…

The Price of Oil slipped again last night and trades this morning with an $85 handle… And the 10-year Treasury perked up overnight as it sits this morning at 4.899%… So, the 10-year is close to 4.90% and that’s only a hop, skip and jump to 5%… 

The U.S. held an auction for 3-year bonds yesterday and it was as if it got whacked by the ugly stick… The 3-year had the biggest tail since May.. It just shows to go you that foreign demand for Treasuries is waning… The “Sell America” has started… I’m just saying

Ed Steer has a great quote by Ayn Rand this morning…. “We are fast approaching the phase of Ultimate Inversion the stage where Government is free to do anything it pleases to do, while the citizens may act under permission.  Which is the phase of the darkest periods of human history. The stage of rule by, brutal force.” You can find Ed here; www.edsteergoldsilver.com

OK, Chuck Again… this “Sell American” is really a thing folks, and can you blame them? The world order is in shamble, where once the U.S. were the leaders of the world… But they fooled around and fell in love, no wait! The fooled around and dropped Gold from its backing, they had budget deficits that lead up to over $40 Trillion in Debt, that they’ll never repay. They acted as policeman all over the word, and tried to instill the American Way. Among too many other things that have got the globe wondering about the U.S. 

The POTUS said yesterday that he plans to hold off, for now,  retaliation of the Iranians because of appeals from other countries… as 9 tankers head to the Gulf to help the tankers that are on fire… This is holding off is hurting the price of Oil, and the dollar… Is he too chicken to bomb? Or, is he ready to come to the negotiation table? I think it’s the latter of the two…

The U.S. Data Cupboard has the STUPID CPI for us today… It’s expected to rise .2% which will put the yearly rate at 3.9%… Might as well, call it 4%… But then made up numbers make up the STUPID CPI anyway… Why not make up some more? Then we have a plethora of Fed Speakers on the road to tell us lies and innuendo today… Aren’t we lucky?

To recap…. The dollar got sold yesterday and tried to rally back overnight, but fell short… The “Sell America” mantra is really taking hold and soon it will become a catastrophic event… The 3-year Treasury auction got hit with the ugly stick and the POTUS is holding off the retaliation… 

Market Prices 11/10/2026: American Style: A$ .6910, kiwi .5630,  C$ .7070, euro 1.1215, sterling $1.3423,Swiss $1.2180, European Style: rand 16.4024, krone 9.4434, SEK 9.7934, forint 323.72,    zloty 3.9145,    koruna 21.6991,         RUB 82.84, yen 158,23, sing 1.2783, HKD 7.8446, INR 93.90, China 6.6708, peso 18.50, BRL 5.8211, BBDXY 1.2222, Dollar Index 101.75, Oil $85.95, 10-year 4.89%, Silver $52.52, Platinum $1,556.00, Palladium $1,054.00,   Copper $ 6.30, and Gold… $4,077

That’s it for today and tomorrow, as tomorrow I have to go back to the doctor for my treatment… What a meh football game last night, unless you’re a Buffalo Bills fan… I am going to try to drink a cup of coffee this morning… We will see what happens… This laptop is giving me fits… I figured how to get the text smaller, but now the cursor keeps jumping around and if I don’t look at the screen it could make a word look awfully ugly… Tomorrow is Veterans Day… My dad was a veteran of WWII… He fought in France… and he was a hero to me… He had a work ethic that carried over to me, and for that I thank him…  Chicago takes us the finish line today with their song: Does Anybody Know What Time It Is?  This was the only song that the band would let me sing because I sounded like Robert Lamm… I hope you have a Tom Terrific Tuesday today, and Please Be Good To Yourself?

Chuck Butler

• the sell American mantra returns
• Help! I did something to my text!

Good Day… and Marvelous Monday to you! Well, Friday night, my beloved Mizzou Tigers and St. Louis U, played basketball it was the first time in a long time that they have played each other… And Saturday brought us the Mizzou Football team playing Texas… And that didn’t turn out too good. 

I have to get this off my chest this morning… the BLS added 412,000 jobs to surveys, that when done the BLS said that 165,000 jobs had been created… In all of 2026 they added a net of 3,382 jobs…  This is ridiculous folks… They’ll have to admit that they added all these jobs in error at some time in 2027, but by then, everyone (except me) will have forgotten that the BLS cooked the books in 2026…  And by then the masses will have gone on the data of 2027 and each month in 2026 will show the wrong employment numbers… 

The reason I get so upset by the BLS is that 1. The are lying to the American public, and 2. The erroneous job numbers give the dollar an extra push… So, the dollar gets pushed upward because this time because the so-called strong number tells the markets that the rate hike is a go for 12/9… 

So, the dollar buying went through the roof on Friday and the 

BBDY rose more than 5 points on the day, to 1,226…  I said that the dollar would stop getting sold after the mid-terms were over, but I didn’t think that it would go on a run like this…

Gold, after having a banner day in price movement, had to suffer through two days (Thurs and Fri) of SPTs getting the most of their days of shorting the two… Of course, the feeling in the markets that a rate cut is coming, no matter what. That’s not the selling I’m talking about… Gold ended the week at $ 4,072 and Silver wasn’t far behind the attention that Gold received from the SPTs and end the week at $52.07…

The price of Oil bumped higher to a $90 handle going into the weekend. The 10-year Treasury saw a very volatile day on Friday… After bonds got initially sold and the yield went to 4.90%, the Fed Heads stepped in and bought and the yield went back down to 4.85%. If you were one that thought the Fed Heads were just joshing when they said that they were going to buy the 10-year, you feel a little foolish right now eh?

In the overnight markets last night… the dollar went back to getting sold and the 5 index points it gained on Friday was almost wiped out.. The dollar was sold by 4 index points in the BBDXY last night..  The foreigners are thinking that the U.S. will go into a spending spree and the dollar will suffer. So, they started the “sell the dollar or the everything American” again… 

Gold and Silver were the beneficiaries of that mantra, and Gold is up $44, this morning, as is Silver being up .59-cents… Our fiscal debt is the reason for the mantra being brought out again… And it’s only going to get worse…. And quickly too….

The overnight markets brought down the price of Oil as it sits at an $88 handle this morning… And the 10-year Treasury is 4.87% this morning. 

Well, the Bank of England did something on Thursday that they haven’t done in a month of Sundays and that is they hiked rates! They hiked them 25 basis points to 4%…  It’s about time they got off their collective duffs and did something about their inflation is the markets point of view… Mine is a bit different as you would expect…  But I don’t have time for that today…

The gulf of Hormuz is on fire and the U.S. has decided that a retaliation will have to wait…  5 oil tankers were attacked by the Iranian factions..

The dollar is in trouble again, but this time it starts from a higher value… I just don’t think that the ads that ran for the new party members had any thoughts on how to reduce our fiscal debt… 

That’s the problem the Globe has gone to the out of this world debt situation, and no one, not even the propeller heads of Washington… and eventually this debt will come crashing down. And all the people will be unprepared for this event… Got Gold?

I put my thoughts on this about 12 years ago in a Sunday Pfennig, called: Chuck’s Debt Solution… I even went to Conferences and did a spiel on this… I tried everything to retrieve this piece, and even contacted Frank Trotter who is the smarted man in any room, but he couldn’t find it… So, I’ll have to come up with my thoughts again… But, when I do, it’ll be the only piece that tells the powers that are in Washington, what we need, as a country to do to get some relief in our debt…..

I’m not doing too well these days, so I’m heading to the Big Finish now.. Sorry…

The U.S. Data Cupboard we already touched on above… The STUPID BLS members added 412,000 jobs to the surveys…. And looky there, the STUPID CPI for Rocktober this morning… They will show that inflation went higher in the month, but remember, they are starting much lower that the real Inflation… 

To recap… Friday saw the dollar go on a warpath and gained 5 index points, but overnight last night the “Sell America” returned and the dollar got sold by 4 index points.. The Bank of England finally hiked rates on Thursday last week.

For What it’s Worth… the well for articles are dry… So, I had to settle finding some lies from a Fed Head speaker and it can be found here: “Barkin sees interest rate hikes ahead, but at a gradual pace“

Or here’s your snippet: “Richmond Federal Reserve President Thomas Barkin said Thursday that he expects the central bank will have to raise interest rates further, though he’s not sure by how much or at what pace.

In a CNBC interview that was part of the Richmond Fed’s 2026 CFO Summit, the policymaker expressed concern over inflation and said monetary policy will need to adjust.

“Unemployment’s near record lows, and inflation is too high. That means the path is pretty straightforward. The question, of course, is pace,” Barkin said in the talk with CNBC’s Steve Liesman.

“Gradual makes sense if you think there’s uncertainty in the world, and if you think that there’s information you’re going to get in the period. And I think that’s still a pace that makes sense to me,” he added.”

Chuck Again… we knew that Tom… But I guess someone had to say it out loud… 

Market Prices 11/9/2026: American Style: A$ .6985, kiwi .5513, C$ .7041. Euro 1.1189, sterling 1.3414, sterling 1.3414, Swiss 1.2212, European Style: rand 16.4470, krone 9.4089, SEK 9.8306, forint 324,46, zloty 3.9192, koruna 21.7668, RUB 82.40, yen 157.41, sing 1.2768, HKD 74.14, INR 93.97, china 6.6715, peso 18.56, BRL 5.5048, Oil $88.17, 10-year 4.87%, Silver $52.82, Platinum $1,554.00, Palladium $1,048.00, Copper $6.33, and Gold… $4,116

That’s it for today… I did something to my outlook text, it’s HUGE, and took me way too long to get through the Pfennig today… Tigers lost Basketball and Football games this past weekend, and the future doesn’t look bright for the Football team… I’m not on the best of health these days, and I go to the doctor on Wednesday… I hope she has some answers… The band, Los Bravos take us to the finish line today with their song: Black Is Black…. I hope you have a Marvelous Monday today, and Please Be Good To Yourself!

Chuck Butler

Chuck Butler

• the dollar continues to get sold
• Gold/Silver rally….

Good Day… and A wonderful Wednesday to you! Well, the all Hallow’s Day was just that for yours truly… I got 2 ½ hours sleep on Monday night, and less than that on Tuesday night… So, there was no reason, other than that, that I was tired as could be and slept all day… I woke up in time to go and vote… Good thing too, for I would have been really upset if I didn’t go and vote… Ian Goom greets me this morning with his song” Hold On… 

Well, the mid-terms are over, and the markets’ participants can get back to dealing with what they are paid to do… The dollar fell another index point to 1,220 in the BBDXY yesterday, but if anything tells us the direction of the dollar it is what happened when the U.S. first went into war with Iran… And that is rally…  Let’s hope not, because the dollar should be getting sold because of the war, and 2. The costs that are being built higher and higher…  

But that hasn’t happened, and I doubt that the dollar gets sold any more, now… It’ll come, but we must be patient. 

The price of Gold was bought in the early trading, but was succumbed with the SPTs selling short and Gold fell $12 on the day to wipe out its early gains and close at $3.939

Silver was a subject to the SPTs from the get go yesterday and lost $1.52 and closed at $39.66

It was reported yesterday that fighting along the Red Sea was picking up. So. There’s that! But… the price of Oil rallied to a $95 handle yesterday… Doesn’t make any sense but it is what it is…  And the 10-year Treasury saw more buying and its Yield fell to 4.90%

In the overnight markets last night… Well, I was wrong about the dollar getting bought now that the mid-terms are over.. The dollar continued to be subjected to selling as it lost 1 more index point to 1,219 in the BBDXY… The Democrats swept both the House and Senate yesterday and what the markets see is sweeping taxes making the cost of living to go higher…  

Gold is up $111 to start the day… As the search for something that investors can lean on found Gold and Silver… Gold is up and Silver has been lagging Gold, but this time Silver gained $2.19 overnight, so all is well… And the metals rally has begun… if only the SPTs leave them alone… Yeah, and pigs will fly… and unicorns will romp around… and Santa and the Easter Bunny got together and played cards…. That’s how unlikely it is that the STPs leave the metals alone… 

The price of Oil remained trading with a $95 handle overnight, and really looks to me as if it wants to go higher…  And the 10-year saw selling for once and the yield on the bond starts the day at 4.93%

Well, it was raining all day yesterday, making the polls a dead place… I walked in and up to the guys that signed me in and gave me my ballot. Then a guy was there to show me an open workspace, and I voted and then left it took me about 10 minutes total to do my civil duty and vote…I have to tell you that a guy next to me must have been living under a rock, because he was there when I sat down and was still there when I left….

Well, there was all kinds of data yesterday, that usually get shrugged off but the day was different and they counted… First up was the Factory Orders which came in way above the forecast, and was the 4^th month in consecutive order that Factory Orders were up… But that didn’t help the dollar, so we moved onto another data print. 

This time it was Job Openings… sounds mundane, doesn’t it?  Well, it wasn’t yesterday, as people quitting their jobs or being shown the door grew at a pace of 330,000 people…  The data set was darn near the all-time record of people quitting their jobs… And this data was not what the dollar was looking for to get it out of this selling… 

So, the dollar got sold… and Gold and Silver rallied… it was my dream what would happen but in reality, I thought the dollar would come back strong…  And who knows what the SPTs would do about the metals?  But that reality was wrong…  and my dream came true!

Here’s Kitco.com’s viewpoint on what went on yesterday… “There have been 13 midterm elections since 1974. In eight of them, gold’s average price in the following November was higher than its average in the election month; in the five others, it was lower. The average change was +14%, the median +15%. The two most recent midterms, 2018 and 2022, saw +20% and +15% increases to the gold price.”

So, I should have just looked at kitco.com and I would have been bang on with my dream… UGH!

Here’s more from Kitco.com, ” Iran announced Monday that it could reopen the strategic waterway and resume nuclear negotiations with Washington within two days, shortening an earlier proposed seven-day timetable, provided the United States accepts conditions that include lifting the naval blockade of Iranian ports, easing sanctions on Iranian oil exports and agreeing to broader ceasefire arrangements. Tehran maintains that commercial vessels would transit through a route coordinated with Oman under Iranian supervision. However, Washington has not accepted the proposal, and substantial differences remain over sanctions relief, maritime security and the terms of any lasting settlement.”

Chuck again… this is really a tinder box and has the two sides looking at an increase of fighting… And yesterday, the thought was that a peace agreement might be in place soon… Things change here so fast, and the best you can do is own some Gold… 

The U.S. Data Cupboard has the ADP Employment Report for Rocktober today and the Trade Deficit… these are not the kind of reports that will move the dollar much, that is, unless they are rogue and tell us a different story…

To recap… The mid-terms are over, the Democrats swept both the house and Senate on what idea they have is unknown… my friend David Galland once said, “If you think our debt is high, wait until these guys take over”… UGH!  I dont’ talk politics in this letter, so we’ll move on to say the dollar continued to get sold yesterday, and Gold / Silver saw HUGE rallies overnight.. 

For What It’s Worth… Well, the people still ask, “are the central banks still buying Gold?”… and the answer according to the World Gold Council the answer is yes… And that article I can be found here: “Central Banks buy 321 tonnes of Gold in Q3, lifting 2026 demand to 675 tonnes: World Gold Council

Or here’s your snippet: “Central banks stepped up gold buying in the third quarter to its fastest pace since late 2024, as geopolitical risks and concerns over fiscal discipline bolstered institutional demand for the precious metal.

The institutions added a net 321 metric tons to their reserves in the period, driven by portfolio diversification and risk management, according to the World Gold Council, an industry body representing gold miners. Despite a subdued start to 2026, year-to-date purchases are now 6% higher than last year’s.

“Central banks remained an important pillar of demand,” said Louise Street, senior market analyst at the WGC. China and Poland were the largest disclosed buyers.

Chuck again… Well, the central banks are buying Gold at a discount that they created with the bullion banks… But at least they’re buying!

Market Prices 11/4/2026: American Style: A$ .7010, kiwi .5624, C$ .7162, euro 1.1246, sterling 1.3475, Swiss $1.2232, European Style: rand 16.4690, krone 9.2321, SEK 9.7560, forint 323.11, zloty 3.9110,  koruna 21.6131, RUB 81.86, yen 158.52, sing 1.2784, HKD 7.8457, INR 94.64, China 6.6731, peso 18.65, BRL 5.4988, BBDXY 1,219, Dollar Index 101.46, Oil $95.45, 10-year 4.93%, Silver $52.31, Platinum $1,466.00, Palladium $1,017.00    Copper $6.45, and Gold… $4,042

That’s it for today… Another night of no sleep… I finally fell asleep about 4 am and then woke up at 5 am… I can’t wait for these steroids to leave my system… I really went off the deep end with my comments on the sweep by the democrats… Sorry… I just write what’s on my mind… And sometimes I say stuff that I later regret… Gold & Silver really rallied last night, eh? I am going to lunch with former classmates today… I love these get togethers! The Allman Brothers take us to the finish line today with their song, live from the Fillmore: Statesboro Blues… I hope you have a Wonderful Wednesday today, and Please Be Good To Yourself!

Chuck Butler

• The dollar is stick in the mud
• But history shows us that tomorrow will be different…

Good Day… And a Tom Terrific Tuesday to you! Well, I don’t much to say today here, just some thoughts on last night… We went to our locale Mexican place for $ taco night… And I know that with my stomach and digestive system too iffy, that wasn’t the best place for me to eat. But I did it and am no worse for it… And the company was great! I get to wean off the steroids for the time being… And heavens me! I almost forgot… Welcome to November! My most disliked month…  Herb Albert and the Tiajuana Brass greet me this morning with the song: This Guy’s In Love…  (see, I told you long ago that my playlist is like the AM radio station that I used to listen to, with a very wide range of music.)

The dollar didn’t move much yesterday, and I told you yesterday that it probably wouldn’t be either because there were zero data to talk about yesterday… Gold found a way to gain $77 on the day to close at $3,947 and Silver gained $1.52 on the way, and closed at $50.78

The price of Oil remained at $99 and change yesterday… I did see where our friends (NOT) at OPEC decided to keep the Oil output unchanged… And that news apparently was enough to get  the metals rebounding a bit

I think that the folks that were alerting their constituents to have stock up on emergency stuff, are under the thoughts that after the mid-terms today… So, don’t bet on that the dollar will continue to get sold after they close today…  And the buying of the 10-year Treasury lost another Basis point in the BBDXY.. 

In the overnight markets last night… The dollar remained trading at 1,2221 in the BBDXY, so there was no movement there, ahead of the STUPID CPI print for Rocktober today… And the mid-terms… this is huge folks, because everyone’s attention will be taken away from the markets and onto the mid-terms… Then, tomorrow, we’ll wake up and find that the markets came alive ahead of the Jobs Jamboree this Friday… 

Gold is up again this morning; this time it’s up $16 and it appears that $3,900 is the low that the SPTs are happy with…  So, Gold hit $5,600 in Jan 2026, and then fell back to $3,900 a 30% drop… in a matter of 9 months.. That’s quite a drop… But if $3,900 proves out to be the low then we know what it was the SPT’s were looking for and we can move on from here… 

Did you know that the stocks have moved higher every year after the mid-terms since 1954? But the one thing to think about is how overbought they are now… 

The price of Oil slipped by a buck last night and starts today with a $93 handle… and the 10-year Treasury is up a basis point this morning from yesterday and sits this morning at 4.92%

Well, are you going out to vote? This is one of the major benefits we get as citizens of the America, and I know it doesn’t really matter who’s running; they’ll be the same deficit wielding representative that the former guy was… It’s the Amendments that I’m going for… They write them so that nobody knows what the hell they are voting for or against…  But I look under the hood and find out what’s really up for vote… 

I said above that the Jobs Jamboree will be this Friday, but I was off my rocker… The next FOMC meeting that’s schedule will be 12/9… I don’t know what I was thinking… But any way the FOMC’s next meeting is 12/9 and there’s a 75% that they FOMC will hike rates at that meeting… The U.S. data has looked a little healthier, but doesn’t warrant a rate hike… But the FOMC fell way behind the inflation 8-ball that they needed to catch up…  

But what about the data dependent Keven Warsh? Folks, he’s a two-handed economist just like the other ones… On one hand they’ll you they are data dependent, and on the other hand they’ll tell you they need to fight inflation…  And Kevin Warsh is no different!

OK, we got that out of the way… The currencies are trying to decide if they can get out of the sick beds or remain there… I’d say let the markets decide which way they want to go after the mid-terms… And then decide if they should be getting…. But for now, they have one foot out of the sick bed…  and ready to get back in bed all the way if they should… 

The Petrol Currencies are seeing the back and forth of the Oil Price again, and they have decided to sit this one out…  And it appears that Iran is prepared to discuss peace at last… And the POTUS has been prepared to get out of this mess with America’s pride still intact…  This potential peace will hurt the Oil price and bring energy price inflation down in the U.S. and elsewhere… 

And the panic in the bond markets appears to have subsided… It was interesting while it lasted, but appears now to be over… Bonds will remain high as long as inflation remains intact… But not as high as they were in yield…  low in bond price… 

And finally, the price of Gold is perking up, and if anything, it will look to gain through to spring… I’m just saying… Got Gold? And if you didn’t take advantage of the drop in Gold’s price, I’m here to tell you that there’s still time as Gold is still below $4,000… 

The U.S. Data Cupboard has only one piece of data today, and that is the Sept print of Factory Orders… This is one of those pieces of data that will direct the FOMC, so keep an eye out for that one. 

To recap… The markets are on hold for now, as the mid-terms take over their respective attention… But when we wake up Wednesday, the markets will be happy, if their status doesn’t change from 1954… Gold is up and Silver is down to start the day… Nothing new here… The SPT’s short positions in Silver will continue to drag Silver along… 

For What It’s Worth… Well, one of my fave analysts and author, Grant Williams says that “the next crisis will force the world back to Gold” and his interview with Dominic Frisby, and this is the subject of their interview and if can be found here: The Next Crisis Will Force The World Back To Gold | Grant Williams

Or, here’s your snippet:  most of this FWIW article is a video interview, but here’s some points that Grant makes during the interview… 

“Grant argues that politicians will never go for the discipline of a gold standard voluntarily, but the breakdown of the existing system – excessive debt, financial instability, currency debasement and ultimately a loss of trust in money itself – will force it on them.

We discuss why he sees gold as the financial system’s “apex predator”, why the investment conditions of the last 40 years have reversed, and how a future revaluation of gold could form part of the process of rebuilding confidence in the monetary system.”

Chuck again… I encourage you to view this interview and take in whatever Grant is saying… 

Market Prices 11/3/2026: American Style: A$ .6989, kiwi .5618, C$ .7150, euro 1.1190, sterling 1.3415, Swiss $1.2208, European Style: rand 16.5471, krone 9.2917, SEK 9.7886, forint 325.07, zloty 3.9437,    koruna 21.7463, RUB 81.53, yen 158.13, sing 1.2801, HKD 7.8454, INR 94.74, China 6.6694, peso 18.57, BRL 5.4872, BBDXY 1,221, Dollar Index 101.78, Oil $93.79, 10-year 4.93%, Silver $50.52,  Platinum $1,482.00,  Palladium $973.00     Copper $6.44, and Gold $3,961.00

That’s it for today… I’m going to go vote now… I hope you do too!  I’m weak from the steroids, and need to build up my strength again… I find that difficult to do while I’m sitting in my relaxer reading… HA! I really don’t have anything else to talk to you about today, so…. Procol Harum takes us to the finish line today with their song: Conquistador… I hope you have a Tom Terrific Tuesday today and Please Be Good To Yourself!

Chuck Butler

• The dollar’s fall is very conrolled
• The Globe is up in arms about something

Good Day… And a Marvelous Monday to you! Well, how did your Halloween Saturday night go? We had a chance of Rain, but it didn’t ruin the night’s fun… As I’ve said before I love giving out treats to the little Trick or Treaters, just not the older kids, who are out for nefarious reasons… We sat in the driveway, giving out candy, with a fireplace going and the Mizzou/Arkansas game on… Great fun… 

Well, my 5 Bullets weekend writer scared me more than the Trick or Treaters… Here’s a snippet of what scared me… “dozens of governments have told citizens to prepare emergency supplies… YIKES what do they know that we don’t? I guess we’ll all find out together, eh?

The dollar saw a bit more selling on Friday… As Employment Costs rose in Sept… The BBDXY ended the week at 1,223… Still way overbought in my humble opinion. There wasn’t any real economic data on Friday to trade from, so the day went along fine until the day closed with no fanfare. 

The short sellers were out in force, and they laid waste on Gold, and then went on to Silver, Platinum, Palladium, and Copper… They didn’t take any prisoners in Gold and Gold lost $146 on the day, to close the week at $ 3,876… Silver was down $3.04 and closed at $49.25. These are levels that were last seen on the way up… for Gold it was 2025, and for it was Oct 2025… 

It was a very ugly day for the precious metals, and the industrial metal, Copper… I do understand that some of damage here was from the losses in margin accounts in stocks… The margin accounts receive minimum calls on their margin accounts, and they have to either sell some stocks, to create more equity, or deposit more cash…  On heaven knows that they can’t sell their precious stocks… I almost choked writing that… 

Or, they can sell what is worth more than anything in their accounts, and they sell Gold/Silver because they are liquid, and then deposit the funds in the margin account to pay for the Minimum Margin calls on the account… 

But… and that’s a but with a capital B, those trades I just described only account for a small amount of the losses; the short traders took care of the rest… 

The price of Oil stayed high on Friday, and closed the week at $104… and the 10-year saw more buying, and it closed the week at 4.93%

In the overnight market last night… The dollar selling as nascent as it may be did continue last night, with the BBDXY losing 2 index points to 1,221… still way overbought… But getting back to where it was a month ago.. You know, looking like it might be ready for a leap from the cliff… 

Gold is not being sold so far this morning, and is up $25 to start the day/ week… Silver too, is up this morning and starts the day/ week with a 90-cent gain… I don’t see Glinda the good witch telling us that it’s all safe to come out again yet, so we’ll hold back the “all’s clear sign”  

The price of Oil slid $5 overnight, and nothing on the Oil price.com site tells me why… But just wait, Oil will back over $100 once the fighting begins again, which from what I read will occur right after the mid-term elections…  

And the buying of the 10-year Treasury continues with the yield falling to 4.91%, a level it hadn’t seen since September when it was on its way higher… 

I can’t put my arms around how much longer this short selling will last… I imagine though that when the losses hit the POTUS’s account he will come up with an executive order to halt short selling… Ok, I was just imagining that, so don’t take it as a realization… 

This in from Bill Bonner’s Daily missive: “Real average hourly earnings have now declined on a YoY basis for six consecutive months, falling 0.7% over the past year. The stock market may be near record highs, but that doesn’t mean everyone is participating equally in the gains. Nearly 1 in 5 American families fell behind on debt payments in 2025, the highest share since 2010.”

YIKES! Chuck Again… That’s scarier than the Halloween costumes I saw Saturday night! I told you the other day that the internet hadn’t made us richer, and that we made less than we did 10 years ago… Well, this data really plays that out!

I really think that if you don’t read it yet, that you should because Bill does a great job of explaining of why we as consumers are tapped out…  you can find him here: Bonner Private Research | Substack

Boy, I’m full-o-good-news this morning, aren’t I? NOT! But it is what it is, and there’s nothing we can do about it, other than protect ourselves from the Big Loss, of which Bill calls it… 

The U.S, Data Calendar doesn’t have any data for us, but tomorrow we’ll see the latest STUPID CPI for Rocktober, which I expect to see go upward some… 

To recap… There wasn’t much going on Friday, except the raid on the metals, and I mean all of the metals! There’s something going on around the globe, and right now we don’t know what’s causing the rest of the Globe to stock up on emergency stuff… 

For What It’s Worth… Well, last week there was a HUGE heist of Cryptocurrency, and this article tells us how.. And it can be found here; Gone in 20 minutes: How the biggest heist in crypto history unfolded | Reuters

Or here’s your snippet: “About $6.3 billion worth of cryptocurrencies were drained from wallets that Binance uses to ​process transactions, according to the exchange and expert analysis of blockchain records.

Binance said in a statement on X, opens new tab that it initially thought the attack involved a ‌compromised laptop. “However, our subsequent investigation has uncovered additional points of breach,” it added, without elaborating.

The exchange operates a secure asset fund for users, a $1 billion bitcoin reserve designed to protect customers in the event of a security breach, according to its website.

Co-CEO Richard Teng said losses would be covered by the fund and company resources.

According to US blockchain analytics firm TRM Labs, opens new tab, the attackers compromised Binance’s “signing infrastructure”, which authorizes transactions, allowing ​them to issue instructions that emptied the affected wallets.

The bulk of the heist unfolded in about 20 minutes, blockchain records show, beginning shortly after 2000 GMT on ​Thursday.

Once the funds were moved, the attackers raced to shift them beyond the reach of Binance counterparties and stablecoin issuers, which have frozen ⁠roughly half of the stolen assets.

An unusual feature of some cryptocurrencies, including major stablecoins such as Tether’s USDT and Circle’s USDC, is that their issuers can freeze them remotely.

“In ​layman’s terms, the attacker may not have stolen the vault key, they may have hijacked the system that tells the vault to release money,” said Joshua Chu, a Hong Kong lawyer ​who works on crypto cases.

WHO IS BEHIND IT?

Several US blockchain analysis firms said the attack bears similarities to previous operations attributed to North Korean hackers.

Teng said Binance’s investigation had not yet identified the attackers, while North Korea routinely denies involvement in cyberattacks and cryptocurrency thefts. North Korea’s mission in Geneva and embassy in China did not immediately respond to requests for comment.”

Chuck Again… this is pretty scary stuff don’t you think? You thought your crypto was secure in Binance, and then you find out it wasn’t after all….

Market Prices 11/3/2026: American Style: A$ .7009, kiwi .5624, C$ .7156, euro 1.1237, sterling 1.3418, Swiss $1.2237, European Style: rand 16.6430, krone 9.2507, SEK 9.7531, forint 325.08, zloty 3.9410,   koruna 21.7095,  RUB 81.03, yen 157.90, sing 1.2790, HKD 7.8460, INR 94.90, China 6.6490, peso 18.73, BRL 5.4376, BBDXY 1,221, Dollar Index 101.65, Oil $99.84, 10-year 4.91%, Silver $50.18, Platinum $1,438.00, Palladium $993.00,    Copper $6.51, and Gold… $3,901

That’s it for today… My beloved Mizzou Tigers beat Arkansas on Saturday night.. The Tigers started slow, but got it going in the 2^nd half…  I’m back on steroids as my digestive system was up in arms again last week, which means I didn’t get much sleep last night… The funniest joke I heard on Saturday night was: I friend told me that only an onion could make him cry… So, I threw a coconut at his head!  The Ides of March take us to the finish line this morning with their hit song: Vehicle… I hope you have a Marvelous Monday today, and Please Be Good To Yourself!

Chuck Butler

• The FOMC needs more time…
• Last night was a nothing burger

Good Day… And a Tub Thumpin’ Thursday to one and all! Boy, did I ever step in a pile of dog do-do yesterday… I went to be on Tuesday night right after the Brewers went ahead 3-2, and thought they had won… I never even checked the score the next morning, so I said they had won the Championship… I was WRONG! Apologies to the Rays and their fans… I didn’t get much sleep last night, and then turned the alarm off this morning because I had just gotten back to sleep…  Thus the very lateness of the Pfennig this morning…  Steeler’s Wheel greets me this morning with a very appropriate song title: Get It Right The Next Time…  because I was dead wrong yesterday…

Well, the FOMC left rates unchanged yesterday, which surprised many who thought it was go – time… FOMC head honcho, Kevin Warsh had this to say about the pass…  “The FOMC wanted more time to view the data that will come..”  Well, isn’t that so sweet? The Kevin Warsh sounded like former FOMC head honcho, Jerome Powell… Didn’t Powell give this excuse time and again when not raising interest rates… ? Why yes, he did… But some thought it was too close to the mid-term elections and that if the FOMC cut rates then he would be accused of being Political.. Hey, Yellen did it, it’s been done before… I’m just saying,,.

But the dollar didn’t get sold too much, as the BBDXY lost 1 index point to 1,224… But it stopped the dollars move lower, when they left the door open for future rate hikes, But… what happens if the economic data prints are bad between now and 12/9… Does he give up his fight to stop inflation? This is where Fed leaders get their credence or lose it… If he keeps his word that he’s going to fight inflation Then what happened to his waiting for good data… and if he waits again, then what happened to his inflation fight?   Caught between a rock and hard place is what my dad would have said…. 

Gold got back on the rally horse when buyers of physical Gold and ETFs started to buy by the bushelful… Gold gained $18 yesterday, while Silver lost 12-cents… Gold closed the day at $4,068 and Silver closed the day at $53.34

The price Oil Saw some buying and it closed the day at $102.70, and the 10-year saw some buying and the yield fell to 4.98%,

In the overnight markets last night…a great big nothing burger was last night, as the foreign markets were not there apparently. The dollar remained at 1,224, the currencies look as though they woke up in the same clothes as yesterday. The price of Oil remained with a $100​ handle… and so on… the night trading was a big nothing burger… except for…. 

Gold got knocked for a loop when the data printed this morning,,, If I had woken up at normal times, I would have said that Gold did nothing overnight… But I didn’t and woke up hours later this devastation in Gold… Gold is down $38 to start the day, and I just sit here and shake my head with disgust… 

Silver was taken to the woodshed too… Silver is down $1.49 to start the day and trades with a $52 handle… this is getting serious folks…

The price of Oil remained with a $100 handle, and the yield on the 10-year is 4.98% to start the day…

The Bank of Canada hike rates 25 Basis Points and said that inflation was the reason for the rate hike…  But in reality, it’s a rate hike to match that of the U.S. Fed/ Cabal/ Cartel’s rate hike last month… I’m just saying…

So, yesterday, Gold gained on the FOMC non movement in rates, while Silver fell… What is a mother to do? The SPTs increased their total short contracts in Silver in the last month, and it tells, doesn’t it? Days when Gold is able to get past short selling while Silver can’t… The STPs have done their job of getting the short timers out of Silver… I’ll give them that, but otherwise, I’d say that they’ve not a done a thing except they have lined their pockets more… who knows when this will end? But it will, I’d bet my bottom dollar on it ending ssomeday… I might not  be here to enjoy that day, it’s coming… 

Bill Bonner in his daily newsletter yesterday was going on about how much money these AI firms are losing… Last year Claude lost $80 million,,, The same scenario was playing out before our eyes in the late 90’s with the internet companies… They issued stock and their stocks would go through the roof, before they made a dime… I’m just saying… 

And how did the internet improve our lives? We still go to work every day and we make less than we did in than in 1999… Think about that folks… 

OK, The currencies are remaining in their respective sick beds… Except, here he goes again with lauding the Chinese renminbi, the Chinese renminbi.. The Chinese are winning the AI war with the U.S. and the renminbi shows that in its trading…  I don’t know how they do it, but them seem to beat us at everything they put their minds to … 

The U.S. Data Cupboard today was busy this morning…  first, we saw the color of the last week’s Initial Weekly Jobless Claims, Then we’ll see Personal Income and Spending… We, as a country are sill spending more than we bring in, and this report showed that once again… And finally, the FOMC’s favorite inflation report.. The PCE… once again, inflation moved higher to 3.6% y-t-d… I would look for a rate hike for sure on 12/9 … I’m just saying…

To recap… The FOMC left rates unchanged and didn’t hike them as thought… The dollar got sold but not by much… The 10-year saw more buyers and the yield on the bond dropped to below 5%… And it was a day -o- Data  and Gold /Silver got knocked for a loop… 

For What It’s Worth… Well, even with the 10-year’s yield falling to 4.98% The yield has really risen, and that’s because of a bond crisis that’s brewing… This article is about the bond crisis that’s brewing and it can be found here: ” https://www.macleodfinance.com/p/bond-crisis-in-the-making?

Or here’s your snippet: ” Markets are being horribly complacent over the inflationary consequences of the Middle East crisis. This is not unusual. Time and again we have seen markets and the authorities underestimate the consequences of these events. The most recent example was the inflation following Russia’s special military operation against Ukraine, when the Fed was reluctantly forced to increase its funds rate leading to a number of regional banks having to be rescued.

This reluctance to embrace higher rates and bond yields has a long history, from usuary laws to Keynes’s General Theory to Regulation Q. Suppressing interest rates is the primary tool of central bank economic management. And over time it always leads to an unexpected crisis.

The crisis in the Middle East is extremely serious. Any observer worth his salt can anticipate the impact on global business, which faces a slump. At the same time, consumers face higher energy, logistics, and transportation costs. A vicious El Niño following a European summer drought is driving up food prices. The destructive synergy of these events combining is widely ignored. But just as interest rates were forced higher in the wake of Russia’s SMO, here we go again.”

Chuck Again…This article by Alasdair McCleod is very long, so you’ll have to go to the link to read it all… sorry… 

Market Prices 10/29/2026: American Style: A$ .7026, kiwi .5618, C$ .7145, euro 1.1145, sterling 1.3384, Swiss $1.2088, European Style: rand 16.6333. Krone 9.2679, SEK 9.8598, forint 327.93, zloty 3.9387,   koruna 21.8167,  RUB 80.71, yen 157.90, sing 1.2809, HKD 7.8466, INR 95.25, China 6.6624, peso 18.78, BRL 5.3821, BBDXY 1,224, Dollar Index 102.22, Oil $100.91, 10-year 4.98%, Silver $52.66, Platinum $1,485.00, Palladium $1,029.00,   Copper $6.59, and Gold… $4,030

That’s it for today and this week, Next week will be election day, not a full election, just partial and other amendments to be voted on… My beloved Mizzou Tigers get back on the gridiron on Saturday VS Arkansas.. I’ve already congratulated the Brewers for their World Series win… And Congratulations to Willam Contreas for winning the MVP of the series.. We, as in the Cardinals used to have his older brother, but not anymore. I still put a cap on when I left the house yesterday… and probably will for some time… I went to my grandson Braden’s swimming conference last night…. The place was packed! He’s becoming a very strong swimmer! OK… Blind Melon takes us to the finish line today with their song: No Rain….I hope you have a Tub  Thumpin’ Thursday today, and Please Be Good To Yourself!

• The dollar gets some backing
• RBNZ leaves their OCR unchanged

Good Day… and a Wonderful Wednesday to you! Congratulations to the Milwaukee Brewers who won an extra inning affair over the Rays and that led to a Sweep in the Word Series… So, the Brewers are the Champions of baseball in 2026… Yesterday, was awful for me, as my digestive system went haywire and I kept away from food all day! I think it’s ok today… We’ll have to wait-n-see… lighthouse greets me this morning with their classic rock song: One Fine Morning… 

Well, the overnight gain of 2 index points for the dollar was just the beginning of a great day for the dollar… The dollar gained 3 more index points yesterday, and finished the day at 1,225.. Durable Goods were good and that pretty much sent the dollar on this rampage… The debt was forgotten about for one day… not by me, the dollar traders…

The price of Gold saw yet another day of small gains, with Gold gaining $32, while Silver had to endure more short selling and lost 60-cents… Gold closed at $4,050, and Silver closed yesterday at $53.40… Gold seems to have hit a low of $4,000 and that’s the line in the sand… so, if Gold takes off from $4,000 it remains to be seen… but Gold has entered its late fall to spring rally time…  I’m just reminding you…

The price of Oil saw some slippage and closed at $100.70… While the 10-year Treasury yield stayed at 5.% throughout the day… 

The dollar seems to be reacting to something that went on this past weekend… The Chinese premiere Xi, was quoted saying; “The renminbi must take over the reserve currency of the world.” And POTUS said: That would never happen as it would be akin to losing a war”… 

I think the POTUS stepping up for the dollar that he has previously stated that he wants the dollar cheaper, has really stuck a chord in the dollar traders… 

In the overnight markets last night… The dollar remained at 1,225 in the BBDXY… The Central Bank of New Zealand met and discussed rate and decided to keep them steady Eddie… That’s not what traders wanted to hear, and therefore they took out their frustration on kiwi… 

Gold/Silver are seeing some short selling this morning and are starting the day down… Well, that does it for Gold’s recent 3-day rally… 

Ok, it’s a FOMC rate decision day today… Will they hike are wait a month? I tend to believe that they will forego a rate hike today, then hike again at their next meeting on 12/9… This was once the thought that went through the markets that they would wait… But, then the economic data began to filter through and show that the economy isn’t in as bad of shape than previously thought… And the FOMC observers kind-of went on the fence and some said they would hike and other said that wouldn’t… 

We’ll find out this afternoon… FOMC head man, Kevin Warsh has been quite through this time and that a bad sign for no rate hike folks… 

What will Gold do when they do raise rates again? Well, when the last rate hike went through the naysayers said that’s then for Gold, but Gold thought otherwise, and rallied… I said that we live in a world of opposites, and this is a prime example of that… 

Gold’s path back to $5,000 will be tested for sure… 

We’re almost to Halloween… Can you believe that? I think the year has gone by pretty fast… Before we know it, we’ll be having Thanksgiving and the Christmas! The weather sure has changed… Oh well, I am getting older and that’s a good thing… 

The protests have gotten pretty ugly in France… and pretty soon they will be in other European Countries… And then the U.S.? I mean usually things that begin in Europe come to American shores… 

There isn’t really any good to write about this morning, so I’ll just head to the BIG FINISH and live for another day… 

The U.S. Data Cupboard had the Durable Good Orders that grew at +1.8% after no growth last month… what really made me scratch my head is that Consumer Confidence came in a 91 which beat last month’s 84 reading… the 84 was a multi-decade low and now we have people having galas and spreading seashells a ballons…  You don’t think that the Gov’t cooked this number do you? 

Today’s Data Cupboard is void of anything else than the FOMC rate decision so it’s all about the FOMC Day… 

To recap… The POTUS got involved in the rhetoric surrounding the dollar and the trades like that and moved the dollar higher on the day… Gold made it a 3-day rally but ran into a roadblock overnight… The RBNZ (Reserve Bank of New Zealand) left their Official Cash Rate unchanged last night, and trades didn’t like that decision and took it out on kiwi… 

For What Its’ Worth… With not much going on I has to search far and wide for a FWIW article today, and came up with this article on Chinese people buying Gold on dips… They are smart cookies… That’s all I’ll say bout that, but you can find the article here: Chinese Households Are Buying Gold’s Dip as Prices Test $4,000 – Bloomberg

Or here’s your snippet: “Chinese households’ appetite for gold has grown over the past two months as prices soften and onshore equities lose their shine, providing support at a time when bullion is testing $4,000 an ounce.

One popular contract on the Shanghai Gold Exchange, Au99.99, saw volumes jump to 43 million lots last week, or around 430 tons, the highest level since April. The contract requires the full amount to be paid and mandatory delivery, so it reflects physical demand rather than leveraged bets.

“Domestic gold demand is increasingly running against the price trend, strengthening as prices fall,” said Zijie Wu, an analyst at Jinrui Futures Co., adding festive buying through Golden Week in October was also encouraging. Lower prices, Wu added, provided “attractive entry points for long-term investors.”

Chuck Again… well, I said that’s all I have to say about this… But let me remind you that the Chinese are aware of Gold’s winter rally potential just as we are… 

Market Prices: 10/28/2026: American Style: A$ .7035, kiwi .5607, C$ .7163, euro 1.1140, sterling 1.3290, Swiss $1.2052, European Style: rand 16.6622, krone 9.2959, SEK 9.9325, forint 329.74, zloty 3.9579,  koruna 21.8825       RUB 80.56, yen 157.86, sing 1.2821, HKD 7.8449, INR 95.23, China 6.6669, peso 18.64, BRL 5.3470, BBDXY 1,225, Dollar Index 102.36, Oil $100.70, 10-year 5.01%, Silver $54.19, Platinum $1,557.00, Palladium $1,048.00,      Copper $6.64, and Gold… $4,057

That’s it for today… I know, I know it’s lacking today, but just like the rainy days.. You’ve got to go through them to enjoy the sunny days better… And you have to go through a day with the Pfennig lacking to enjoy the longer ones…. My wife bought our candy to give out to the trick-or-treaters Saturday night… And now I wonder how much will still be around until Saturday… HA! My scalp is healing… finally! I’ve been wearing a baseball cap all the time, so people didn’t have to look at my head… But I think I’ll scrap the cap today… There’s still some healing to go, but the worst part is over now… The Guess Who takes us to the finish line today with their song: No Sugar Tonight… I hope you have a Wonderful Wednesday today, and Please Be Good To Yourself!

Chuck Butler

• the dollar finally wakes up and gains
• draining the well…

Good Day… and a Tom Terrific Tuesday to you! Well yesterday was a great Big nothing burger… Yes, Gold made it back to $4,000 but besides that, the dollar remained flat, and so on… The Brewers are making mincemeat out of the Rays in the World Series. And we’re going to remove more Oil from our reserves… UGH! This is tardy today, I overslept having just gone to sleep at 4 am…. Live greets me this morning with their Big hit song: Selling The Drama

Well, I already told you that the dollar remained at 1,222 in the BBDXY yesterday. Yesterday, I told you that I thought the dollar traders had come to fork in the road with the dollar… On one hand, the economic data has had a better feel to it. But… The darn old Debt is hanging over us like the Sword of Damocles…  And yesterday it was too much of a weight on their shoulders… And with the FOMC planning on a 2-day meeting starting tomorrow, and ½ of the forecasters have them hiking rates again… and ½ of the forecasters not calling for a rate hike before the mid-term elections… The dollar is in a pickle…

Gold/Silver found a way through the gauntlet of SPTs and rallied for the day yesterday… Gold gained $21 to $4,018…  And Silver gained $24-cents to $54.08… the falling yields of the 10-year Treasury, is helping Gold to find some terra firma… Most of the gains in Gold/Silver yesterday came in the overnight markets… that and the war rhetoric has abated a bit ahead of the mid-term elections… 

The price of Oil saw a small increase yesterday and ended the day at $101 and change… And the 10-year didn’t see any Fed Head buying and it gained one basis point to end the day at 4.97%

Speaking of Oil… Apparently, we are going to remove 400,000 gallons of Oil from our SPFs (Special Reserves) which will bring our reserves to the lowest they have been since 1982, and could bring the reserves that remain to a very watery state, and cause the salt cave that they are held in, to see their walls begin to crumble… This is a BIG Move folks, and one without risks… I’m just saying…

In the overnight markets last night…  The dollar finally got off its duff and gained 2 index points in the BBDXY… The rhetoric regarding the war starting up has faded, and therefore the dollar traders saw that they needed to buy some dollars…  The dollar is still in a pickle, and it can be traced back to the Debt…  But what else is new?

The price of Gold is up $5 to start the day… it rallied because of the same thing that moved the dollar. Silver on the other hand is seeing some STP selling and it has moved below $54… Remember, I told you that Silver would be a laggard to Gold’s rally because of all the short contracts that Silver has….

The price of Oil remained at $100 overnight… Not much going on here right now, so Oil traders tthought it best to keep their powder dry…  And the 10-year Treasury climbed back to 5% this morning… The 10-year’s performance is tied to the Fed Heads and whether they are buying or not… 

Well? Did you like the links I provided for you yesterday? They were quite good in my humble opinion… 

There’s a rumor going around that even though the U.S. joined Japan in their intervention of the yen to save them from having to sell some Treasuries, Japan is looking to sell $1.4 Trillion of Treasuries… Uh-Oh…  This would be catastrophic to the U.S….  Thanks for nothing, Japan… It shows to go you that the U.S. is losing its allies.. 

Remember when I used to say: Let’s dissolve the changes instituted in 1913? The first change, was to create the Federal Reserve, the second was to create an income tax, and the third changed the way that Senators were sent to D.C… 

Let’s let Doug Casey have his say about the Fed… he can be found at : www.internationalman.com  here’s Doug: “The creation of the Fed set the monetary system on a different course.

From 1913 to the present, the estimated US broad money supply has expanded close to 1,500-fold.

The government’s rigged CPI statistics say the dollar has lost over 97% of its value since 1913.

Measured in gold, the US dollar has lost 99.5% of its value.

The dollar’s decline since 1913 echoes the fate of Rome’s denarius. Between AD 180 and 280, Rome stripped all but a trace of the silver from its currency as the empire descended into terminal decline.”

Chuck again… this is an easy description of what those bankers on Jekyll Island, GA. Did when they created The central Bank of the U.S.

The U.S. Data Cupboard finally has something for us today as the Sept print of Durable Goods Orders…  The previous month’s print was 0% growth, so anything positive would be welcomed…  and another brick in the Wall (Pink Floyd) for the next rate hike 12/9

To recap…not much moved and when it did move it moved in the right direction… The dollar remained at 1,222, Oil gained a buck, the 10-year gained 1 Bps, and the currencies remained in their sick beds

For What It’s Worth… The whereabouts of Gold holdings is becoming a real problem for Gold holders… In this case, Singapore has become a leading holding place for Gold holders. This story can be found here: Singapore Draws Wealthy Investors Seeking Gold Storage – Bloomberg

Or, here’s your snippet: “Gregor Gregersen’s first Singapore bullion business began from under his bed. He stashed silver, though not much of it, and trades took place at his neighborhood train station as he tested for local demand.

Almost 17 years later, the German-born former bank data architect owns a six-story, 180,000-square-foot mega-vault with enough room to house about 10% of the world’s annual gold supply and 30% of yearly silver supply. Now, the business has not only outgrown his bedroom but the local clientele, and he’s selling more space to foreign investors who want their bullion stored somewhere farther away.

Gregersen isn’t alone in benefitting from this trend. Banks and precious metals dealers in the city-state say a growing number of wealthy American, European and Middle Eastern investors, unsettled by wars, government debt and political uncertainty at home, are looking to diversify where they hold their gold. Rich overseas investors are sending their metal to Singapore, seeking something that the precious metal cannot provide on its own: a reassuring place to keep it.

Private gold holdings in Singapore have surged about 16-fold from 2014 to over 800 metric tons last year, with a majority of the increase coming from Europe, according to estimates by bullion dealer J. Rotbart & Co. The company forecasts that to grow further this year and next.

Golden Gains

Private gold holdings in Singapore are expected to grow, driven by inflows from wealthy European and US investors

Note: The cumulative estimates include bullion held by family offices, high-net-worth individuals and institutions; excludes MAS’s sovereign gold reserves.

“Old wealth families who were holding physical gold in other jurisdictions are moving some part of that to Singapore,” said Manish Tibrewal, co-founder of Singapore-based multi-family office Farro Capital, which provides financial advisory services to ultra-high-net-worth families. “The other set of families who had never bought physical gold are now buying that either through private banks or directly through bullion dealers” to store in the city-state.

Singapore is working to turn that shift into business. Banks, including Nomura Holdings Inc. and Oversea-Chinese Banking Corp., are adding services to trade and hold the metal there. Government authorities are building infrastructure to make the country a bigger bullion market.”

Chuck Again… I think that other places in the world see this, and think they too should get into the Gold Vaulting thing…. 

Market Prices 10/27/26: American Style: A$ .7032, kiwi .5707, C$ .7129, euro 1.1147, sterling 1.3325, Swiss $1.2065, European Style: rand 16.6472, krone 9.3209, SEK 9.9373, forint 329.49, zloty 3.9487, koruna 21.8471,    RUB 80.63, yen 157.82, sing 1.2812, HKD 7.8445, INR 95.11, China 6.6852, peso 18.64, BRL 5.3449, BBDXY 1,224, Dollar Index 102.18, Oil $100.89, 10-year 5%, Silver $53.89, Platinum $1,519.00, Palladium $1,034.00,          Copper $6.59 and Gold… $4,022

That’s it for today… I received information about early voting, of which I would prefer to do, since my back cramps up when I stand too long, and none of the places that allow early voting are near us? UGH! The Brewers sure laid a beating on the Rays last night, and only needs to win 1 more game to win the World Series… I slept most of yesterday, as I haven’t been sleeping well at night, so I made up for my lack of sleep last night… The Strawbs take us to the finish line today with their great 70’s song: Autumn    I hope you have a Tom Terrific Tuesday today, and Please Be Good To Yourself!

Chuck Butler

• The dollar gets sold on Friday biut gets boight overnigh
• The Royal Mint says that a renewed interest is on!

Good day, and a Marvelous Monday to you! I’m feeling much better than I was last week, when I had to bail out of writing one day… I was in no condition to be sitting at my writing desk and writing… And that was that! I’m still dealing with some problems, but, they have abated quite a bit, so I carry on… The World Series has started… I don’t have dog in this hunt, and usually I always root for the Nation League, but I can’t seem to get my arms around the Brewers… The Dave Clark 5 greets me this morning with their 60’s song: Because… 

Well, the dollar continued to be under the microscope and get sold, as the BBDXY lost 1 index point to end the week at 1,220… I saw under the microscope because that’s how I see traders looking into the dollar and trying to sell it based on its DEBT…  Now, this (The debt) has been something that I’ve yelling from the rooftops about for decades… But, until now it didn’t seem that the traders were listening… 

The SPTs have done a masterful job of driving the price of Gold / Silver down… I have that to say about them… But, why? I get to that in just a bit, but first I need to get through the update on the prices we care about…

Gold/Silver got taken down again on Friday, and this time the SPTs and Gold closed below $4,000 and Silver just keeps getting taken lower…  Gold ended the week at $3,996, and Silver at $54.04… I don’t think that the SPTs have much more nickels and dimes they can get out of Gold/Silver… I’m just saying…

The price of Oil slipped at first on Friday, but ended the week rallying and closed out the week at $103… And the 10-year’s yield ended the week on a down note at 5.01%… That’s a good number for folks buying gas, and for the Gov’t’s finances… But other than that, if you look at the 5.01% is all about individuals buying the 10-year, and not Fed Head buying, then I have a bridge to sell you… 

In the overnight markets last night.. The dollar found a couple of buyers, and the BBDXY gained 1 index point… I don’t know but it seems the dollar traders are in a pickle… on one side they are seeing better economic data, but on the other side is the debt… That darn old Debt….everywhere you look there’s the debt and its hanging over us like the Sword of Damocles…. 

Gold / Silver are starting the week flat… waiting to see if the STPs are going to try squeeze and more blood out of the turnip…. The price of Oil starts this week at $101…  and the 10-year Treasury has lost some yield overnight and starts today/ week at 4.98%… 

The Petrol Currencies all also being tugged both ways these days… The begin to rally when the price of Oil rises and then turns around and gets sold when the price of Oil drops… UGH! Pick a lane Oil traders!

And don’t look now but the Chinese renminbi trades this morning with 6.66 price handle… That was a big move vs the dollar overnight… and from the looks of things there are more in store for the renminbi… I’m just saying…

Ok, now back to our debt…  I read a lot from the Mises Inst. And the latest report from them is that everyone is coming back to the phrase… “The debt is a myth, for we owe it to ourselves”….   C’mon folks don’t tell me that you are one these misguided people….  For this is just what it is a Myth…  We paid $1.4 Trillion in debt servicing costs last fiscal year… Show me where this interest was paid to us?   That’s just one example….  I point you to something that I found and is a good was to put this to bed…. The Debt Myth: “We Owe It to Ourselves” | Mises Institute.

It’s a very long read so make sure you have the allotted time to give it proper attention…  Mises calls what we have a debt spiral and says we are hurtling down the train tracks… he also said: “There are four theoretical exits from a debt spiral: default, austerity, growth, and inflation. Default is unthinkable to the people whose power rests on the debt’s sanctity. Austerity is unthinkable to the people whose power rests on spending. Growth fast enough to outrun six-percent-of-GDP deficits is a fantasy no honest forecaster will sign. The likely path is a blend of evasions and whatever the blend, its active ingredient is inflation, the exit with no constituency and no ceremony. It is not a policy anyone will announce. It is the station at the end of the line.”

Chuck again…  My good friend, Dennis Miller had a piece on inflation this past week, and I borrowed a fact from his letter… 

I’ve told people for years that inflation was sticky, and it wasn’t going away. And how It was lessoning your purchase power.. But it had better be beaten soon, because I saw this and shuddered…”1975–2025: $100 in 1975 is worth only $16.40 in 2025, representing an 84% decrease in purchasing power.”

Now do you get what I’ve been telling you? This is ridiculous! Just think about how you go to the grocery store, and your dollar doesn’t buy what it used to… now some of that is price increased that go along with inflation, but most of it is inflation… 

Sorry, I had to stop for a couple of minutes while Carlos Santana played Europa… I love this song, will always stop what I’m doing at the time this song gets played… 

Ok, I’m back now… this letter has become a real intense look at the dollar and that’s the key folks… The value of the dollar will determine how the currencies fare, how the metals fare, and how individuals fare… 

Speaking of the metals… I was treated the other day from the good folks at GATA a YOUTUBE from Andrew Maguire of the Live From The Vault show and I have that YOUTUBE for you to view…  And it’s right here: The Lull Before a Gold & Silver Tsunami – LFTV Ep 295

Now, before you go headlong into this, be aware that it’s 59 Minutes long, but after watching it I can say that if you skip ahead to about 10  minutes into the show, you’ll recognize some of what he’s talking about with the shorts…  So, there you go!

The U.S. Data Cupboard has some data for us this week starting with tomorrow’s printing of Durable Goods Orders, which in Sept were flat… later in the week, we’ll see the color of the lasted fave inflation print of the Fed Heads PCE… 

That’s it for today… The dollar ended the week seeing some selling, not much but some nonetheless… Chuck thinks that the traders are finally seeing the debt as a problem for the U.S.   Gold/Silver saw short selling going into the weekend and Gold fell below $4,000!  Chuck reviews the debt, and other things… 

For What It’s Worth… well, I’ve talked about the Fall to spring time to rally for Gold/ Silver. And if this report gives us any indication of what’s ahead then we’re on track here… This report can be found here: Silver and platinum demand reaches record levels as investors return to gold at The Royal Mint | The Royal Mint

Or, here’s your snippet: “The Royal Mint has reported record-breaking demand for silver and platinum bullion in 2026, as investors increasingly look beyond gold to diversify their precious metals holdings.

New figures from The Royal Mint reveal that revenue from silver bullion purchases on royalmint.com increased by 295% during the first nine months of 2026, compared with the same period in 2025. Platinum bullion revenue also rose by 118%, with both metals surpassing every previous full-year total, with a quarter of the calendar year still remaining.

Silver bullion coins have been particularly popular, with revenue increasing by 323% year-on-year across the first three quarters. The figures point to growing interest in silver as investors explore different ways to hold physical precious metals, including UK bullion coins.

The exceptional growth in revenue has been driven largely by a surge in buying activity during the opening months of 2026. Across all bullion products, the value of precious metals purchased by customers increased 39% in the first nine months of 2026 compared with the equivalent period last year.

Meanwhile, there are encouraging signs of renewed momentum in gold bullion coins following a period of market uncertainty. Revenue from gold coin purchases increased 21% between July and September compared with the previous quarter, while revenue is up 10% across the first nine months of the year, versus the same period in 2025.

The Royal Mint also continues to attract new investors to precious metals. First-time buyers accounted for 29% of purchasing customers during the quarter, with the number of new customers increasing 13% compared with April to June, despite a challenging investment landscape.”

Chuck again… well, if things do work out right, then these are the current lows for Gold / Silver so what are you waiting for? 

Market Prices 10/26/2026: American Style: A$ .7030, kiwi .5664. C$ .7135, euro 1.1196. Sterling $1.3347, Swiss $1.2405, European Style: rand 16.6424, krone 9.3476, SEK 9.9674, forint 328.36, zloty 3.9393, koruna 21.7631,        RUB 80.54, yen 157.26, sing 1.2804, HKD 7.8451, INR 95.19, China 6.6687,   peso 18.74, BRL 4.9791, BBDXY 1,222, Dollar Index 101.81, Oil $101,     10-year 4.98%, Silver $54.06, Platinum $1,5747.00, Palladium $1,1072.00,   Copper $6.51, and Gold … $4,015

That’s it for today… I’m here are week, no doctor’s appts scheduled for me this week …. YAHOO!  One thing that my doctor is worried about is how my blood sugar has risen… I reminded him I was on Steroids for nearly a month, but that didn’t seem to change his mind… I can check it at home, but that requires a needle stick into my finger… And I get enough needle sticks I don’t need to add one… We had little Brooks on Friday all day… he is so cute, and is already recognizing us… The Marshall Tucker Band takes us to the finish line today with their great song: Heard It In A Lovesong… I hope you have a Marvelous Monday today and Please Be Good To Yourself

Chuck Butler