Housekeeping: This is the PM GoldFix post combining AM emails with additional intraday posts.
Contents
Morning Rundown:
Macro-Economics/Commodities:
Geopolitics/Elections:
Founders:
(NEW) GOLDFIX Intraday Chat
Market Recap
Morning Rundown:
Macro-Economics/Commodities:
Geopolitics/Elections:
Founders:
(NEW)GOLDFIX Intraday Chat:
Intraday analysis, commentary, and observations in threaded form
Market Recap:
Good afternoon. The rest of the day’s activity was an echo if not an exaggeration of the mornings behavior gold remain soft, hovering down between $23 and $28 most of the day. Silver vacillated around unchanged and finished slightly positive on the day. Stocks finished virtually unchanged on the day.
The dollar was weaker somewhat.The big mover relatively speaking was the bond market. Yields dropped over 10 basis points, reflecting some patience returning to the asset class.
The Vix moved in line with the bond market today as well, dropping significantly indicating a return of calm.
Looking at the whole board, it’s probably safe to argue that all fear indicators were a bit overdone (bonds/vix/gold) Hence those markets retraced a little bit.
Under the surface stock performance diverged wildly. Apple did well on the back of the tariff rollback. Meta did poorly because of the antitrust hearing. Google did well. Bank earnings continued to represent strongly. And the GDX index was strong despite gold weakness.
Good night.
Just a general comment, too many goldfix posts now. I'm behind like 12 posts...
I forgot who posted it, but there was a video discussing how US sellers get called out for “counterfeit goods” on Amazon, booted off the platform, only to find themselves replaced by Chinese sellers selling the same goods for less afterwards. Supposedly Amazon does zero investigation, just boots them.
There’s a category I look at regularly on eBay where I see absolutely counterfeit goods being marked from China completely copying a particular US manufacturer (though I doubt they work exactly the same). eBay does nothing about this.