It's a FOMC day

Good Day... and a Wonderful Wednesday to you! Congratulations to the Milwaukee Brewers who won an extra inning affair over the Rays and that led to a Sweep in the Word Series... So, the Brewers are the Champions of baseball in 2026... Yesterday, was awful for me, as my digestive system went haywire and I kept away from food all day! I think it's ok today... We'll have to wait-n-see... lighthouse greets me this morning with their classic rock song: One Fine Morning... 

Well, the overnight gain of 2 index points for the dollar was just the beginning of a great day for the dollar... The dollar gained 3 more index points yesterday, and finished the day at 1,225.. Durable Goods were good and that pretty much sent the dollar on this rampage... The debt was forgotten about for one day... not by me, the dollar traders...

The price of Gold saw yet another day of small gains, with Gold gaining $32, while Silver had to endure more short selling and lost 60-cents... Gold closed at $4,050, and Silver closed yesterday at $53.40... Gold seems to have hit a low of $4,000 and that's the line in the sand... so, if Gold takes off from $4,000 it remains to be seen... but Gold has entered its late fall to spring rally time... I'm just reminding you...

The price of Oil saw some slippage and closed at $100.70... While the 10-year Treasury yield stayed at 5.% throughout the day... 

The dollar seems to be reacting to something that went on this past weekend... The Chinese premiere Xi, was quoted saying; "The renminbi must take over the reserve currency of the world." And POTUS said: That would never happen as it would be akin to losing a war"... 

I think the POTUS stepping up for the dollar that he has previously stated that he wants the dollar cheaper, has really stuck a chord in the dollar traders... 

In the overnight markets last night... The dollar remained at 1,225 in the BBDXY... The Central Bank of New Zealand met and discussed rate and decided to keep them steady Eddie... That's not what traders wanted to hear, and therefore they took out their frustration on kiwi... 

Gold/Silver are seeing some short selling this morning and are starting the day down... Well, that does it for Gold's recent 3-day rally... 

Ok, it's a FOMC rate decision day today... Will they hike are wait a month? I tend to believe that they will forego a rate hike today, then hike again at their next meeting on 12/9... This was once the thought that went through the markets that they would wait...

But, then the economic data began to filter through and show that the economy isn't in as bad of shape than previously thought... And the FOMC observers kind-of went on the fence and some said they would hike and other said that wouldn't... 

We'll find out this afternoon... FOMC head man, Kevin Warsh has been quite through this time and that a bad sign for no rate hike folks... 

What will Gold do when they do raise rates again? Well, when the last rate hike went through the naysayers said that's then for Gold, but Gold thought otherwise, and rallied... I said that we live in a world of opposites, and this is a prime example of that... 

Gold's path back to $5,000 will be tested for sure... 

We're almost to Halloween... Can you believe that? I think the year has gone by pretty fast... Before we know it, we'll be having Thanksgiving and the Christmas! The weather sure has changed... Oh well, I am getting older and that's a good thing... 

The protests have gotten pretty ugly in France... and pretty soon they will be in other European Countries... And then the U.S.? I mean usually things that begin in Europe come to American shores... 

There isn't really any good to write about this morning, so I'll just head to the BIG FINISH and live for another day... 

The U.S. Data Cupboard had the Durable Good Orders that grew at +1.8% after no growth last month... what really made me scratch my head is that Consumer Confidence came in a 91 which beat last month's 84 reading... the 84 was a multi-decade low and now we have people having galas and spreading seashells a ballons... You don't think that the Gov't cooked this number do you? 

Today's Data Cupboard is void of anything else than the FOMC rate decision so it's all about the FOMC Day... 

To recap... The POTUS got involved in the rhetoric surrounding the dollar and the trades like that and moved the dollar higher on the day... Gold made it a 3-day rally but ran into a roadblock overnight... The RBNZ (Reserve Bank of New Zealand) left their Official Cash Rate unchanged last night, and trades didn't like that decision and took it out on kiwi... 

For What Its' Worth... With not much going on I has to search far and wide for a FWIW article today, and came up with this article on Chinese people buying Gold on dips... They are smart cookies...

Here's your snippet: "Chinese households’ appetite for gold has grown over the past two months as prices soften and onshore equities lose their shine, providing support at a time when bullion is testing $4,000 an ounce.

One popular contract on the Shanghai Gold Exchange, Au99.99, saw volumes jump to 43 million lots last week, or around 430 tons, the highest level since April. The contract requires the full amount to be paid and mandatory delivery, so it reflects physical demand rather than leveraged bets.

“Domestic gold demand is increasingly running against the price trend, strengthening as prices fall,” said Zijie Wu, an analyst at Jinrui Futures Co., adding festive buying through Golden Week in October was also encouraging. Lower prices, Wu added, provided “attractive entry points for long-term investors.”

Chuck Again... well, I said that's all I have to say about this... But let me remind you that the Chinese are aware of Gold's winter rally potential just as we are... 

Market Prices: 10/28/2026: American Style: A$ .7035, kiwi .5607, C$ .7163, euro 1.1140, sterling 1.3290, Swiss $1.2052, European Style: rand 16.6622, krone 9.2959, SEK 9.9325, forint 329.74, zloty 3.9579, koruna 21.8825    RUB 80.56, yen 157.86, sing 1.2821, HKD 7.8449, INR 95.23, China 6.6669, peso 18.64, BRL 5.3470, BBDXY 1,225, Dollar Index 102.36, Oil $100.70, 10-year 5.01%, Silver $54.19, Platinum $1,557.00, Palladium $1,048.00,   Copper $6.64, and Gold... $4,057.

That's it for today... I know, I know it's lacking today, but just like the rainy days.. You've got to go through them to enjoy the sunny days better... And you have to go through a day with the Pfennig lacking to enjoy the longer ones.... My wife bought our candy to give out to the trick-or-treaters Saturday night... And now I wonder how much will still be around until Saturday... HA! My scalp is healing... finally! I've been wearing a baseball cap all the time, so people didn't have to look at my head... But I think I'll scrap the cap today... There's still some healing to go, but the worst part is over now... The Guess Who takes us to the finish line today with their song: No Sugar Tonight... I hope you have a Wonderful Wednesday today, and Please Be Good To Yourself!