friday wrap, august 29
market vibes
Jeff Spicoli checking gold and silver prices today.
What a week or better said, what a day! Gold up $50, silver up a dollar to a 14 year high. Bitcoin looking very unwell, and equities can’t find their little blue pills on the last day of the month? Wtf…Let’s check it out.
But first, a sampling of the news and events amphetemizing our markets or anesthetizing them as the case may be. Then a few charts and some technical analysis with comments.
Apparently someone bought a yard of gold today according to blogs on Telegram.
August 25, 2025: “The U.S. Department of the Interior, through the U.S. Geological Survey, today released the draft 2025 List of Critical Minerals. Potash, silicon, copper, silver, rhenium, and lead39 were recommended for inclusion.” That lit the fuse, in my opinion.
“The British Government is committing treason against its people,” tweeted Elon Musk following the arrest of a nameless “Scottish girl” in Dundee. The United Kingdom is approaching a Selma, Alabama-like crisis, I think, and Keir Starmer is George Wallace.
Today in Germany: All political parties except the AfD have pledged to speak “only positively about migration” in the upcoming local election campaign in the West German city of Cologne. (Disclose TV)
Conor McGregor has announced that he has secured the required number of parliamentary votes to confirm his candidacy for President of Ireland. (via Elon Musk, now publically outspoken in defiance of UK speech laws). FWIW Trump is considering personal reprisals. No hard dets on that yet.
On Friday, the U.S. Court of Appeals for the Federal Circuit ruled that President Trump’s IEEPA-based tariffs were illegal, exceeding his authority under the 1977 law. The 7-4 decision upheld a May 2025 trade court ruling, affecting global and fentanyl-related tariffs, but allowed them to remain until October 14, pending a likely Supreme Court appeal.
The judge ruling on Lisa Cook’s TRO and Lisa Cook were sorority sisters. Confirmed via public records with a deep search of their sororities.
As I said, a sampling! So ends the week and month of August in what could be said was one of the best, worst months in quite a while. Most of August was dismally quiet, but the final 24 hours of the month put gold and silver in the “best” column. The worst is a bit of a shocker…
