This morning, gold surged to $4,557, while silver rose 2.68%.


Right now, gold is back to $4,535, and silver is $76.63.
This isn’t a false breakout. It’s genuine hesitation.
What the market did today: it probed the risk-averse narrative, found that nobody was following it, and backed off. The VIX is staying low, the US stock market is propping things up, and Bitcoin at $77,300 isn’t moving at all. Neither side has enough people willing to place bets.
This week’s narrative was set in the morning: two stories were fighting, and neither won. But there’s one detail—today it was the risk-averse side that made the first move. People buying gold are more impatient than people buying stocks. When will they stop being impatient? Wait for PCE. Or wait for someone to finally hold out no longer.
GLDX-0.49%
VIX0.99%
BTC-1.07%
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