What are these knucleheads doing?

Good Day... And a Tom Terrific Tuesday to you! Well, I bet that many readers are glad the regular season has completed, and I won't be reporting Cardinals" scores any longer this year... All good things must come to an end... HA! With the NHL starting tomorrow night, I'll switch to Blues' scores... I went to dinner last night with friends, there were 10 of us! And I got stuffed on trashed wings... Dire Straits greets me this morning with their song: Brothers in Arms... 

Well, Gold/Silver fought back yesterday, but they came up really short, as Gold lost $170 and Silver lost 66-cents... The physical buyers were in there and tried to offset the short sales, but couldn't and so the losses on the day... I'm no Fibonacci expert, and the fact that Gold fell below the Fibonacci level of support, must mean something... But I'm a realist and I believe in the power of phsyical buying and that's why I'll let the Fibonacci thing pass... 

Central Bank buying is still keeping Gold / Silver from falling even more than the short sellers would like... I'm just saying...

The dollar continued to gain yesterday. This time the dollar picked up 3 index points in the BBDXY and gained even more in the overnight markets... What's wrong with these folks? Can't they see that they are buying dollars when 1; the bond servicing (interest they have to pay) is going to choke off our financials... 2: The U.S. is coming close to running out of Oil... 3: The K status of the economy, is going to show that consumer buying is out... And there are more... But these are the top 3.. So, why are they buying dollars? They are buying them because they see the FOMC raising rates in the future and they want to not miss out of these rate hikes....

Now, if the problems facing the dollar didn't exist, then buying dollars on rate hike forecasts would be the thing to do... but with every rate hike that sends rates higher, so too, are the bond servicing costs... So, go ahead and buy your dollars now, you'll be sorry... I'm just saying...

The price of Oil slipped a bit yesterday, and ended the day with a $93 handle... While the 10-year Treasury, continue to rise, ending the day at 4.23% yield... When will the bond boys be happy with the rise in yields? Good question... and one that I don't have an answer to..

In the overnight markets last night... Like I said above the dollar continued its rally last night gaining 2 more index points and the BBDXY sits at 1,216 to start the day... Gold is up this morning after yesterday's assault on it by the SPTs, and is up $43, and Silver is also up this morning, 42-cents... 

The price of Oil has slipped some more and trades this morning with a $91 handle, while the 10-year Treasury saw some Fed Buying and the yield slipped to 4.21%...  

I spent a lot of time above talking about the dollars' problems, as I see them... You might be one of those that don't see things the way I see them, and that's ok... But if you aren't, then you should be diversifying your investment portfolio... I'm just saying...

This story came from the good folks at GATA, and told me that refiners are not accepting the Venezuelan Gold that was taken from the country in the military take down... here's snippet from that article: "all that gold -- hundreds of millions of dollars' worth -- sits untouched in warehouses, according to three people with knowledge of the shipments. Refiners would need to guarantee, under international rules, that the gold has not funded gangs, environmental destruction or corruption."  

Seems that when you bad mouth something but then take it over and you want to make it good again, that there's that thought of it being bad that hangs over it... And that's what this administration is finding out... 

Well, China is really picking up the pace of Physical Gold buying... And then we have the Chinese Golden Week coming up... Sept. 30 through Oct. 7, will be a time for looking to buy Gold... For the Chinese and their allies will most likely be buying physical Gold during that time.... I'm just saying...

I don't know for a fact that the Chinese will be buying during this Golden Week, it just seems to me that they will... So, take this with how ever many grains of sand you wish..

.There's not a lot going on this morning or overnight, so that means there is a wanting of articles and there just aren't any that don't talk about the Strait of Hormuz or Iran or the U.S. turning down the Iranian peace proposal... So that means... this is just about over for today...

The U.S. Data Cupboard has the Case/Shiller Home Price Index for July for us this morning, and the Stupid Consumer Confidence report for this month... Neither one is market moving, but we do have not 1 but 4 Fed Head talks today... So, they can spread more lies... 

To recap... Gold/ Silver tried to come back yesterday, but the hole they were down was too deep... The dollar continued to rally, and Chuck tells us why he thinks that the dollar buyers will be sorry... 

For What It's Worth... Well, I mentioned above that Central Bank buying of physical Gold was still strong, and the report talks about what China will take in this year.

Here's your snippet: "China’s 2026 gold imports could be double those of last year, and will set the high-water mark for the 2020s to date, while silver prices are approaching a key test that could determine the gray metal’s near-term direction, according to precious metals analysts at Heraeus.

In their latest update, the analysts noted that China’s gold imports have already exceeded 2025 totals in 2026. “China imported 142 tonnes of gold in August, taking imports during the first eight months of the year to 1,141 tonnes, 72% higher than the 663 tonnes imported over the same period last year, and higher than the 940 tonnes imported during the whole of 2025,” they wrote. “The strong inflows come despite historically high gold prices and reflect continued investment demand, while Chinese jewelry demand remains comparatively weak. These non-monetary imports are separate from purchases by the People’s Bank of China, which added a further 20 tonnes to its official reserves in August.”

“If Chinese gold imports maintain this pace through the rest of 2026, they will total ~1,700 tonnes, which would represent the highest amount this decade.”

Australia’s gold mine production continued to rise in fiscal year 2025-26 as historically high prices continue to support the mining sector. “Australia produced 303 tonnes of gold up to the end of its financial year in June, broadly in line with its long-run production rate of around 300 tonnes p.a.,” the analysts said. “Output improved at most operations during the June quarter, while several smaller producers also began production. The 303 tonnes produced in Australia account for around 8% of total mined gold supply, which was 3,822 tonnes in 2025.”

Chuck Again... well, you have It there, the Chinese are continuing to buy physical Gold and for that the article also talks about Silver buying, so both are on the docket for more Central Bank Buying... 

Market Prices 9/29/2026: American Style: A$ ..7001, kiwi .5653, C$ .7049, euro 1.1343, sterling 1.3242, Swiss $ 1.9997, European Style: rand 16.3759, krone 9.5893, SEK 9.9807, forint 323.01, zloty 3.8474, koruna 21.5115,  RUB 84.12, yen 178.40, sing 12777, HKD 7.8458, INR 95.98, China 6.7042, peso 17.91, BRL 5.2245, BBDXY 1,216, Dollar Index 101.83, Oil $91.77, 10-year 4.21%, Silver $61.12, Platinum $1,697.00, Palladium $1,245.00, Copper $6.62, and Gold... $4,159.

That's it for today... The MLB playoffs start this afternoon... I have a dear reader that's a HUGE While Sox fan, and so, I've adopted the Sox, as my team... I hope I don't jinx them like I did my beloved Cardinals! I just don't know what to think of the playoffs, in the end, I can't see any other team besides the Dodgers and Yankees the two highest payrolls, to be in the World Series... UGH! The Rascals take us to the finish line today with their song: Beautiful Morning... Which I hope it is... I hope you have A Tom Terrific Tuesday, and Please Be Good To Yourself!