Gold Gets A Bid; Stocks Resume Skid

We'll finish off with these three observations:"They're baaack..."

  •  Recall The Gold's Update's "mini-series" entitled Greek Bonds R Us? We couldn't help but remember that soapy saga upon reading this past week that for the first time in nine years -- and still under the administration of Prime Minister Alexis "Tieless" Tsipras -- Greece is rolling out ten-year notes for which it's said some €10 billion of orders have already been received. So do we revive the series? (Stay tuned...)
  • What on earth has happened to the once Mighty Barron's? We teased at this a couple of missives ago, but it's getting rampant over there at the so-called in-depth sophisticated financial wing of the Dow Wires syndicate. One gets the impression that their writers' pool is populated by children as the school-ish headlines continue, a choice one this past week being "Dow Drops 200 Points Because the Market Sees Weakness Everywhere". It came on the heels from just 24 hours earlier that "The Stock Market Could Keep Climbing Because Momentum Isn’t Dying" Wow. Futures and indices move for a bazillion different reasons from a bazillion different trading entities at any given moment. Moreover, if Grandpa Hugh was still at the helm today, he'd be firing folks left and right ... or more likely given his stoic disciplinary nature, have hired adults in the first place. Just saying..
  • And lastly, following this past busy week of 16 incoming metrics for the Econ Baro, next week brings 17 additional data points. All of this as government-released reports play catch up from the recent shutdown. So mind that Baro.

Mind too the price of Gold as all of this underlying support is a real holding test for our yellow metal.

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