Right as I was about to start recording this, we were back up over the 3040 level. Sounds different to say that. The 3040 level in the gold price. Who would have guessed? Although I guess a lot of people watching this, I think you probably guessed. Well, hello there my friends. Chris Marcus here with you from Arcadia Economics. I’m quite an exciting day in the gold and silver markets and also on the road today, so I have a different backdrop behind me, but certainly as you woke up this morning, quite a move overnight and into the morning session in the gold market where, let’s see, you got the high of the day there at 3046 dollars.

Right as I was about to start recording this, we were back up over the 3040 level. Sounds different to say that. The 3040 level in the gold price. Who would have guessed? Although I guess a lot of people watching this, I think you probably guessed. And anyways, dipped a little bit below there, but I mean, quite a move. We had to pause around 3000 on Friday and then finally last night, just shooting up higher. And I’ll behave myself here, although I was remembering what happened when gold went through 2000. I believe it was the first time.

I remember this was years ago, back in 2020, and I was talking with Keith Neumeier and he was saying, you know, we might hit 2100 quickly. And I remember we thought it’d be a while and it was a couple days or weeks later. And again, this is just a thought that popped through my mind, no forecast of sorts, but I did message a friend saying, gee, I wonder if that’s possible that, you know, we could be today or tomorrow or another quick move away from shooting to 3100 quickly. Obviously, we’ve seen in the past that and just this morning that when these some of these key levels get hit that prices can move quite quickly and sharply could also be down at 2900 in a day or two.

So anyway, certainly leave all that aside. I hope that you’re waking up this morning, especially if you’re a long time gold and silver investor and just looking at that and saying, wow, that feels good. So certainly on the silver side now, did we cross? Oh, look how close the high of the day, 3499.80 goodness. So pretty close to $35. I have 3507 as the high for the futures in 2024. If we back out a year here and well, while that’s loading, hopefully you can take my word for it or you can look it up for yourself if that doesn’t get you there.

And but yeah, 3507 was the high I had from 2024 and silver has dipped back in a little bit since then. And anyway, we got 3470 ish now and certainly good news, especially remember that sell off we had just about two weeks ago, last couple days of the week at Wednesday, Thursday, and Friday. And there’s a little concern out there. And then here we are. And things are looking better. Also the dollar index. Now I’m not claiming by any means to have been a market timer. Well, you got investing dot com hurting a little bit this morning, but let’s give a little reboost here.

But certainly, as you’ve heard me talk about plenty, the dollar index, which shot higher through the Trump election. There we go with the one year chart. Really, right after that, September Fed meeting from last year where the where the Fed felt that despite the economy being strong and inflation already accelerating that 25 was not enough. Let’s do 50. There’s the dollar index slightly below par shot up at one point, I do believe it got slightly over 110. If we zoom in on that one, let’s something too lazy here. There you go.

110 spot 015. And as I talked about on the show, and also there’s a column, which if you go to our sub stack, which is at golden silver daily dot sub stack.com, where we put out a written piece each day mentioned how what was happening with the dollar index was very similar to what we saw back in 2016. And here you go. There’s that chart. Here’s the dollar index. This is that line there. That’s November. That’s the election time. By then you’re up to 99 86 goes up over 103. Although even back in October, a month before the election, I guess this would be September under 95 shoots higher.

Everyone’s saying, wow, look at the strength of the dollar. And then by 2018, just a little bit over a year later, under 90. And I guess we haven’t hit quite that yet, but not far off. I mean, here under a hundred or as they like to call it over 110 back down to 103 and through all that together. And the fact is we’ll get to in a moment that there are more cuts being forecast on the way and get a $3,000 gold price. So in the face of that, we have bond yields have stayed above at the upper end of their range.

That’s the five year obviously have come back in a bit from past couple of months, but still elevated levels. And of course, with the stock markets, I mean, there you see there’s the S and P, you know, it’s dipped down. Now, when you back out or look historically, and we’re still quite high there and you get obviously a similar pattern. Here’s the NASDAQ doesn’t look like much, but you know, over 20,000 significant dip. Here’s what’s really stunning though. Look at back in 2020, even even the decline sin in the last month or so since 2020, you still have more than a double.

And especially as Jordan, Jordan Roy Byrne quite eloquently pointed out on the show last week that if you throw in a stock market decline or what Treasury Secretary Scott dissent is warning about, which we’ll touch on in a moment could compound the effects that we’re seeing on the metals. And anyway, there’s similar pattern with the Dow Jones. And I wanted to keep this one quick, although a few notes here and I have a couple of separate videos that perhaps we’ll air tomorrow touch on these. But here’s James Anderson. Thank you, James, for highlighting this article on Bloomberg global silver market under strain as tariffs trigger dislocation.

Huh? Wish I’d had some warning about that one. I wonder where we could have found that. Okay, I’ll stop. I’ll stop. But yes, that is one to take a look at. And you can find that on Bloomberg. And again, that’s that’s today. This is even after all the stuff that’s happened, silver lease rates soar, its tariff years expose the tight market. Note, I found interesting yesterday was every once in a while checking to see what CNBC is saying about this or that. And interesting note, obviously, we have the Fed coming up this week.

And there are no guarantees there will not be a recession in the US, although there could be an adjustment Treasury Secretary Scott dissent said. And we hear some of the comments that he made says White House trying to stave off a financial crisis. And again, to keep this one brief, I’m going to record something separate about that. Although if you hit the subscribe button and notification bell, and you can make sure you’re notified when we have that. And even with all of that said, you know, you add it all together and look at the futures pricing for whether we’re going to get rate cuts or hikes.

Jim Willie says we need rate cuts and rate hikes. Although it looks like the market thinks we’re going to get a lot of rate cuts, not probably tomorrow, but we’ll see. See how these probabilities change over time, especially as the JFK files are supposed to be released today, which I and I know a lot of other people will be particularly interested in. And especially simultaneously, I’ve been clearing out a lot of photos on my iPhone and some of the fun notes, you can feel free to pause any of these here. And I’ll dig into this another day, but I wonder any of these things that involved the George Bush family.

And well, that one’s not the George Bush family. That’s about the Vegas nerd, but something I’ll be thinking about later today. Also important, yet we’ll give you one quick snippet. Where was the one I was reading before? Well, just pause, pause, pause a couple of these read and I’ll make some comments about it another day. But just to wrap up, also do want to thank for tuna mining, who has really helped allow this show to continue going on through their support of what we’re doing and certainly appreciate them as a partner.

And it’s also very nice to have them continue to have things go as well as they have, including their recent intersection of 7.2 grams per ton, over 31 and a half meters at the new Kingfisher prospect, which is part of their Tsugweila mine in Cote d’Ivoire. Comment from Paul Whedon, exploration drilling at Kingfisher has moved to infilling and improving the resource confidence and mentions that 7.2 grams per ton intersection. Also a note from Sunbird where deep exploration drilling has tested the Southern extent and they’re getting results that they are quite pleased with at 4.3 grams per ton over a true width of 23.1 meters.

And also here are the full drill results. There’s Kingfisher. Again, you can pause that, take a look. Similar with Sunbird, although even better, the link is in the description field below. And also, I’m going to send you on over to the video I recorded last week about this one. Of course, you can always find out if you have, if you would like to get questions answered about Fortuna, you can go here to the contact. Although if you would like help getting in touch with someone there, always welcome to email me at chris at arcadeyeconomics.com and happy to help.

And with that said, though, going to wrap up for now. Hope you are enjoying this wonderful rally. Let’s take one last look at the prices before I sign off for this one. Alright, 3033 and silver at 3463. So go leave your cut in the comment field below where you think the silver price led up today. And with that said, I’m going to wrap up and I’ll see you again soon. Bye. [tr:trw].

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