It’s getting hairy out there. War may be imminent in the Middle East, and both stocks and commodities are dumping simultaneously. Gold, however, isn’t selling off, pushing through $2,500 this week to new all time highs. Silver is lagging, which suggests traders may want to maintain caution here in case the situation in the Mideast calms down again and inspires another relief selloff, still a possibility.
Meanwhile, new estimates by Bank of America regarding the supply of T-bills suggests that reverse repos – the spare monetary tank – may finally zero out in about 2 months after lingering for most of the year. Also, the repo rate comes in hot as July closes out, and bank reserves near the $3 trillion danger zone again.
It’s definitely not boring out there, so click the button to watch the video now!
*********
