Seems like we had another precious metals option expiration on the Comex. 

I was warned that this was the quarterly expiration for an active contract month, and the wiseguys in their shamelessness certainly did not disappoint.

Gold and silver were sold hard, going out near the lows of the day.

The Dollar was marginally higher. This was not a dollar cross-trade.

VIX rose sharply.

Stocks were sold, driven by the usual bipolar interest rate wash and rinse.

The low in the VIX and the nonsensical utterances of the spokesmodels and the Wall Street pigmen auxiliary seemed to indicate a major wash and rinse was in the works. 

Remember when we used to pass the time arguing about whether deflation was inevitable (it is not) or if the precious metals and other markets are manipulated (they are)?

Have a pleasant evening.

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