Rumpelstiltskin

market vibes

February 23 … )

"No one breaks deals with me, Dearie. No one knows it’s just the same, that Rumpelstiltskin is my name.”

The weather in Israel varied slightly by region, on October 7, 2023 but overall, it was typical of late summer and early autumn, warm, mostly dry, and pleasant. As the sun rose, Hamas militants pierced the Gaza-Israel barrier with bulldozers, and paragliders. Ground incursions hit border communities with explosives and military posts with rocket fire. Sirens sounded as far as Jerusalem and Tel Aviv, waking residents on Shabbat (Saturday) and the holiday of Shemini Atzeret Simchat Torah. It was lunchtime in Shanghai and still Friday night in New York.

The attacks peaked around noon, with massacres unfolding at kibbutzim, the Nova festival and towns like Sderot, a modest hamlet of 35 thousand. Fighting continued into the afternoon and night as Israeli forces scrambled to respond. The timing, early on a Saturday and religious holiday, maximized chaos. The assault’s scale, cruelty, and targeting of civilians were intentionally and deeply provocative.

On Thursday, October 5, 2023 gold made new lows in all fractal samples on the Comex, including new lows for the year at $1809.00 for the October contract. However, on Friday October 6, gold closed on the high of the day, up $14 at $1833.00. Gold prices gapped higher on Sunday evening, October 8, and settled $50 dollars higher on Monday in New York. **Note for consistency vs XAU over several years, I’m using spot Comex prices.

Sixteen months hence, front month gold is $1105 dollars higher at $2933.00 and an imminent peace in Gaza is soon to be imposed by the same man who is about to impose clarity on a bizarre mystery that could shake the very foundations of the American financial system, President Trump.

On Saturday the President delivered the Keynote speech at the Conservative Political Action Conference (CPAC) in which he said, “Elon and I are going into Fort Knox. We’re going in to see if our gold is there and it better be there.” It is remarkably synchronicitous that Trump is ending a war that began on the very day this bull market in gold began. Whether or not the gold in Fort Knox has been looted or whether it is intact to the ounce, will soon be known.

Unfolding ahead, a few speculations intended to shed some personal and opinionated light on what I think DOGE will find.