And so we toddle on into the second half of 2025.

Stocks finished the day unchanged to lower.

Gold and silver rallied higher, but gave up a chunk of their gains as the day wore on.

There will be a Non-Farm Payrolls report this Thursday in a holiday shortened week.

VIX is low and complacency is high.

The Dollar has firmly slid off the 97 handle.  

The Euro is not a suitable replacement for the Dollar as a global reserve currency.

I would think that a basket of leading currencies, and at least gold, might be more acceptable.

And those currencies should reflect the current state of the world economy.  

But before then, we have to get past the current crop of growing and festering world crises.

So, in the short term, gold looks like the best bet, with some additional allocation to silver.

Other metals are primarily an industrial play that may be quite profitable.But not from a monetary perspective.

As the Dollar falters, it is likely to be a wild chase. 

Have a pleasant evening. 

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