Founders AM: Gold up Almost $100 now

Founders AM | The Day So Far

Housekeeping: Good Morning.

"Markets stop panicking when leaders start panicking"

---

Gold is now up over 3% almost 100..

1. Gold was bought last night as stocks, bonds and USD were sold

2. At 8 am the London Goldfix (that’s where we got our name) sold Gold down presumably to get some shorts back

3. 9:30 the US public came in and bought the stock dip and the gold rally

4. GDX is up 5% as S&P is now up 1%

Two things are unknown we care about

1. How much longer will this continue unaddressed by Fed and/or Bessent in stimukus terms.. IF THEY CAN STIMULATE—— market hopes unrewarded so far

2. What are they doing right now behind the scenes.. we presume right now theFED and theBOJ are on the phone discussingwhat it will take to get Japan to stop selling US Bonds ———- something ALWAYS happens this way with BOJ, but we never see it except in abrupt change in Yen/USD