Today was an option expiration for gold and silver on the Comex. The June contract is much more significant for gold.
And so gold was sold down, but bounced back a bit into the close. We might expect another 'gut punch' to test the resolve of those who held in the money calls, for which they are rewarded with active futures.
Stocks rallied hard on the latest announcement of 'a deal' by the wheeler-dealer-in-chief.
The substance of the 'deal' is vague and varies. Its intent was to pump the stock market bubble higher.
But it provides an excuse for the stock insiders' pool to push prices even higher.
VIX is coiling.
The Dollar is chopping in a channel.
What went largely unnoticed over the holiday weekend is the warning that the Russian Foreign Minister gave to Marco Rubio to evacuate US diplomats and civilians from Kyiv. A warning like this is required by international law, and is often followed by major military action 24 to 48 hours later.
"Some men want war for sordid, others for idealistic, reasons; some for personal gain, others for impersonal principle. But most of those who consciously want war and accept it, and so help to create its 'inevitability,' want it in order to shift the locus of their problems." C. Wright Mills, The Causes of World War III, 1960
From Iran to Ukraine, highly unpopular Western leaders seem determined to push the envelope of war. And they may well get their wish, although I think most of their citizens want no part of it, but will be carried along with the tide of war and fog of lies.
Have a pleasant evening.
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