China continues to buy Gold

Good Day... And a Wonderful Wednesday to you! What the heck is going on with the dollar? It seemed that after it closed at the same level in the BBDXY as it did the previous day (1,203) that the currency traders had gone home already 3 days early... I guess, when I check the overnight markets, in a minute, something will have changed... My beloved Cardinals won last night VS the Phillies 2-0... The bullpen tried to give it away, but then they had a savior... My second favorite song by Chicago is playing to greet me this morning: Beginnings...

Well, I already told you the dollar didn't move yesterday and stayed steady Eddie with the BBDXY at 1,203... Gold couldn't help itself yesterday as the SPTs took a pound of flesh, and Gold ended the day down, $22. And Silver saw the same SPTs doing their thing pushing Silver down $1.04... Gold closed at $4,369, and Silver at $64.81

The price of Oil continued to rise as the war wages on... Oil was up $2 and change and ended the day at $82.91.... The 10-year Treasury saw its yield bump higher again and ended the day at 4.69% yield...

In the overnight markets last night.... there was some dollar selling overnight with the BBXY down 1 index point to start the day. The BBDXY is 1,202 and looking very shaky.. The STUPID CPI is getting ready to print and most folks that look at this all the time seem to think that we'll see the STUPID CPI soften in July... That would put the rate cut folks on notice and give some OOMPH to the dollar... We'll see, eh?

Gold/Silver are back on the rally horse this morning. Gold is up $45 and Silver is up $1.61... The metals traders are of a different opinion on the STUPID CPI... I always seemed to pin my flag to the Currency Traders...

The price of Oil bumped higher to trade with an $83 handle this morning, and the 10-year is seeing some more yield control by the Fed Heads, and this has brought the yield on the bond to 4.66%... why can't they just leave this bond alone to trade on its own devices? Well, I know why and so do you... The Fed Heads are attempting to keep rates in the ballpark so that the servicing costs (interest payments) don't go through the roof...  

The Chinese Gold Association told us yesterday that Gold consumption rose 1.23% for the 1^st half of this year. The association noted that the country's gold consumption patterns were in flux, as the combination of sharp price fluctuations and a new policy toward taxation on Gold kept Gold from really moving past its previous record for consumption. 

I sure wish the Chinese would clean on just exactly how much Gold they hold... The Gold Co's listing for holding of Gold for the Chinese can't possibly be correct, and it's way too low.... I guess one day, when push comes to shove and the leaders of countries sit down and show what they own, then we'll know... But that's a few years from now, the U.S. is not near ready to admit that they're broke and need to sit down.... 

You know if you ran your household finances like the U.S. Gov't does, you would be in a small cell but grateful for 3 meals a day!  Yes, the good news is that tax receipts are 3.576% higher YTD in 2026, the bad news is that have spent 3.74% more than we took in, resulting in a deficit of $1.79 Trillion YTD.

And in case you were wondering on January 8, 1835, President Andrew Jackson paid off the entire national debt, the only time the United States federal government has reported no national debt. So, it was done once.... of course, the total wasn't what it is now, but then we could have done something to curb the growth back in the early 2000's when the debt was only $7 Trillion... and to think, I was yelling from the rooftops then that this was crazy! 

Moving on... you know, we're still in the dog days of

August/summer... and this year, we've seen more volatility in markets than we've ever seen previously.... And that scares me every morning when I sit down and look what to write about... The volatility is all over the board, stocks, bonds, currencies, metals, energy none have been spared.... 

The U.S. Data Cupboard has the STUPID CPI for July for our viewing pleasure this morning... And that' it... The Data Cupboard this week has left us wanting but the data just isn't there... 

To recap... The dollar was stuck in the mud yesterday and only moved 1 index point overnight... China's Gold consumption is strong even with the very high Gold prices earlier this year... And there are conflicting thoughts on where the STUPID CPI will print today... 

For What It's Worth... I saw this headline and read the artical and immediately thought it was FWIW worthy...

Here's your snippet: "The number of adults living with their parents hit a new record in 2025, with 25.2 million adults ages 25 to 35 residing with their parents. That's almost one in three young people who are still living at home.

Unfortunately, in some cases, these multigenerational living arrangements don't work out.

Let's pretend, for example, that Gabriella's son Juan has moved back in with her. He's 27 and works as an office manager, but he's refused to pay his share of the household bills. Gabriella is frustrated that Juan isn't contributing to expenses, and she's not sure if she should make Juan move out or how to handle the situation.

So, what should she do?

Understand the reasons for the non-payment.

The first thing Gabriella needs to do is to figure out why Juan isn't paying rent.

"What parents often forget is that the refusal to help out around the house or pay rent is usually just shame combined with some level of learned helplessness in a kid who may have held jobs before but never fully supported themselves," Hayley Caddes, cofounder of Not Therapy, a coaching company for neurodivergent and stuck 18- to 29-year-olds, told Moneywise."

Chuck Again... well, I used this to illustrate how businesses are not hiring, they're not firing either.... and that causes snagnation!

Market Prices 8/12/2026: American Style: A$ .7070, kiwi .5866, C$ .7177, euro 1.1542, sterling 1.3523, Swiss $1.2321, European Style: rand 16.1426, krone 9.4775, SEK 9.5299, forint 315.42, zloty 3.7292, koruna 21.0019, RUB 83.04, yen 159.09, sing 1.2790, HKD 7.8467, INR 95.33, China 6.7447, peso 17.06, BRL 5.1619, BBDXY 1,202, Dollar Index 99.81, Oil $83.61, 10-year 4.66%, Silver $66.48, Platinum $1,802.00, Palladium $1,426.00, Copper $6.68, and Gold.... $4,414.

That's It for Today... A nice win last night for my beloved Cardinals and keep their hope for the playoffs at fumes and vapors.... I told my two boys on Sunday that this would be a tough and telling series with the Phillies, and it has turned out just that.. I got 6.5 hours of uninterrupted sleep last night after not taking a nap yesterday, so maybe I can get back to a normal sleep pattern.... The Best Beach Boys son ever takes us to the finish line today: God Only Knows... I hope you have a Tom Terrific Tuesday today, and Please Be Good To Yourself!