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Richard's Thoughts on Gold vs. Fiat Money

Daily Recap

The US stock market was strangely muted today, finishing around unchanged on the Dow Industrials, and down a bit on other key indexes. This after proof (or at least claims thereof) that Putin and Russia hacked our election, and the Chinese capturing a US drone in international (we say) / Chinese (they say) waters. Alfred E. Nueman-like, the market seems to be saying: What -- me worry?

Earlier in the day, Asian markets closed mixed, while European bourses were mostly a bit higher. Interest rates were about unchanged, except on the long-bond, down half a point in price. The 10-year T-note finished at 2.597%, just the tiniest teeny weeny bit below the 2.6% that traders are focused on.

The dollar index was down 0.27, taking the buck off of yesterday's 14-year high. Crude oil rose a buck to finish at $51.98/bbl.

Precious metals were up, but a sickly amount compared to what they've ... Log in or subscribe to continue reading.

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