Housekeeping: Good Morning.
Remember the Toilet paper panic during Covid?
Now imagine that for Gold…
Today:
Commentary: The Priceis Right’s Silver Dollar Showcase
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**SPECIAL NOTE:
Mark Zuckerberg just admitted three things: 1. Biden-Harris Admin "pressured" Facebook to censor Americans. 2. Facebook censored Americans. 3. Facebook throttled the Hunter Biden laptop story. Full text of that letter in Bombshell: Zuckerberg Admits Biden-Harris Pressured Facebook To Censor Content
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The Silver Dollar Showcase
In 1973 the price is right had a showcase competition in which one of the show cases contained 500 silver dollars
Full video here…
The Showcase included a new car, a week’s paid trip to Vegas, and 500 SILVER dollars. The showcase was valued in total at $3433.00. Here is that showcase
MSA Update
According to MSA’s Michael Oliver’s update in his most recent 360 report sent out Sunday: All key long-term buy signals for gold have been triggered, marking a significant continuation of the bull trend that began with the initial buy signal in February 2016.
Recent breakouts, particularly in March, have confirmed this trend, showing strong momentum and a clear upward trajectory in price.
The next leg of this rally could propel gold towards the $3,000 mark relatively quickly before it encounters significant resistance.
Continues at bottom
Equity Recap:
US equities mostly fell on Monday, weighed down by tech shares ahead of Nvidia's earnings report on Wednesday. Energy was the best performing sector, with WTI crude oil prices gaining 3.46% amid reports of a production halt in Libya. Large caps lagged small caps: S&P 500 (-0.32%) vs. Russell 2000 (-0.04%). MSCI Emerging Markets (EEM) and MSCI EAFE (EFA) lost 0.84% and 0.45% respectively.
Market News:
"Oil prices jumped to the highest in almost two weeks on Monday following reports that Libyan production had been shut down over political wrangling between its two governments. FT
"Citadel’s gleaming new 54-story glass tower in Miami will include two restaurants, a rooftop hotel, a public waterfront terrace and perhaps a dock that would enable hotel and restaurant guests to arrive via Biscayne Bay. Ken Griffin, the founder and chief executive of Citadel who moved his headquarters to Miami from Chicago in 2022, plans to break ground on the 1.7 million-square-foot project in the third quarter of 2025... Griffin plans to connect the public terrace to the city’s Baywalk, a 5-mile waterfront trail envisioned by the city." Source: WSJ
"Chinese artificial-intelligence developers have found a way to use the most advanced American chips without bringing them to China. WSJ
"Black Myth: Wukong, a Chinese-made video game backed by Tencent, took just 83 hours to sell 10 million copies, one of the fastest debuts in industry history Bloomberg
Politics/Geopolitics:
Top US general said the immediate risk of a broader war in the Middle East has eased somewhat after the Israel-Hezbollah clash, but Iran still poses significant danger as it weighs strike on Israel, according to Reuters.
Explosions were heard for the third time overnight in the Ukrainian capital Kyiv, according to Reuters.
Russian Defence Ministry says Russia carried out high-precision weapon strike on Ukraine overnight, via Interfax
Some headlines via NewSquawk or DataTrek
Data on Deck: PCE, Housing, and Gaggle of Fed Speakers
MONDAY, Aug. 26Durable-goods orders Daly interviewTUESDAY, Aug. 27S&P Case-Shiller home price index
WEDNESDAY, Aug. 28 6:00 pm Atlanta Fed President Raphael Bostic speech
THURSDAY, Aug. 29 Trade, inventories, home sales 3:30 pm Atlanta Fed President Raphael Bostic speech
FRIDAY, Aug. 30 PCE1
Final Market Check…
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