Stocks And Precious Metals Charts - USD Continued To Decline
Gold and silver were hit hard, very hard today.
I suspect it was intended to break the upward momentum of the metals, and perhaps more importantly, to ease the pressure on borrowing gold from various places including some of the bigger ETFs, where borrow rates had soared.
The smackdown in silver was particularly impressive, coming on a break through the 34 price level.
One of the things you might wish to keep in mind going forward is that the regulatory structure of the US, as bad as it might have been, is getting obliterated now, and it is going to become much worse.
If you panicked and sold at the bottom today, you *might* want to consider that you really ought not to be trading. This is no knock on you or your intelligence. It just means that you are like about 90% of the people who are better off investing for the longer term, and doing productive things in the real world.
The Dollar continued to decline.
VIX fell again to what is considered a rather low level these days, as I have indicated on its chart.
Inventory in Hong Kong bounced back a little, but they are scraping the bottom of the barrel.
Have a pleasant weekend.
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