Last week’s gold & silver rocket ship blew-up in the sky, and with all news untrustworthy by default, at least the local, regional, national and international levels, perhaps this week…
(by Half Dollar) “Market” “Participants” turn their eyes to a number of critical reports this week.
In fact, in addition to the September PPI and Retail Sales reports, we have what is arguably the most important report to come out since the Goldilocks Jobs Report came out just one trading day ago: The Consumer Price Index, otherwise known as the Official Inflation Report.
I would like to say something about inflation but not about the fact that the price of Coca-Cola went up over 30% in September at Costco:
I’d like to say that regardless of what any one report claims to have happened in any given month, the hits just keep coming with no rest for the weary, much less with any relief for the broke.
For example, the price of eggs at Walmart has risen over 48% from the end of September, 2022, to the beginning of October, 2022.
Indeed, here’s the price I paid just two weeks ago:
That’s $3.31 for 18 eggs near the end of September.
Now here’s what I paid just last week for the same quantity of eggs:
And to think, those price increases won’t even be reflected in the latest CPI to be released this Thursday because this week’s report is September data!
Needless to say, the “price action” in gold & silver has not been what the Chart Huggers or the Gamblers in the Rigged Casino expected:
Although brokerage firms everywhere are happy for the churn.
Starve the Beast…
