Gold and silver took a break from the last few days, as the yellow dawg and silver rocket slumped a little on the porch after chasing the volatility of the markets around the barn.
That disruption was caused by the China currency devaluations, which reminded those who have not been paying attention that a) there is a currency war underway, b) there is no sustainable economic recovery despite rosy reassurances, and c) there are a number of bubbles in financial assets that appear to be wobbly.
The Bucket Shop was its usual quiet self yesterday as there were no deliveries to speak of, and no observable action in the warehouses.
Let's see how the metals can go out for the week in tomorrow's trade. Recall that these macro changes tend to happen slowly, and as far as reform of the markets is concerned, there has been very little if any.
Have a pleasant evening.
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