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Gold Discovers It Has a Pulse

Daily Rap 12-07-2020

The stock market limped out of the starting gate and was more or less nowhere with a couple hours to go (when I had to leave), as the Dow and S&P were in slightly negative territory while the Nasdaq had gained about 0.5%. Please check the box scores to see if anything interesting actually happened


Away from stocks, green paper enjoyed a small bounce, fixed income rallied as well, and the metals complex came to life. Gold picked up its head for no reason at all, and when it popped through $1,850 (I'm sure it hit some buy stops) it quickly sprinted up to $1,865 (which was a gain of about 1.5%) before it backed off a little. Silver followed a similar pattern and was almost 2% higher when I left.

A Bounce Out of the Blue (and Red) The miners...more

Last year's posts for Ask Fleck

Q: Hyper volumes of debt Will require hyper volumes of inflation to reconcile that account
Question is do you agree with that analogy?

Fleck: Not exactly. That is a distinct possibility, but it isn't the only outcome.
(posted: 12/4/2020)

Q: In retrospect to the past value of gold I felt that gold would be in $4500 to $5000/oz range today
If currencies continue too have the same dynamic relationship they now have,
will gold continue in the price range that it is in now?

Fleck: I can't really answer that as I don't know why you had such high expectations.
(posted: 12/4/2020)

Q: Bill,

I've been observing over the past few trading days silver is weak overnight and opens negative, then slowly claws back to positive.  Guessing there isn't a lot to read into this as it is a short sample of time, but do you have an opinion on what may be going on in the short term?

Fleck: I couldn't even begin to guess. People playing games for whatever reason.
(posted: 12/4/2020)

more Ask Fleck...

The bottom's in...