Gold & Silver Smashed With The Cover Of Today’s Inflation Data Release

SSDD: Here we go again. Hard and heavy…

Update 1: This isn’t supposed to happen:

In fact, both gold and silver are both dropping on US dollar weakness:

At 8:30 a.m. EST we got official inflation data.

In anticipation of the releases there was heavy selling volume in both gold and silver (as well as a two other slams overnight):

Here’s a look at the waterfall:

Silver has been hit very hard, especially over the last three days:

Gold has held up better than silver, but with yesterday and now today, the beatings are taking their toll:

Here’s some of the data which provided cover for the smashes.

The most important piece of data was Core PCE:


Though below the Feds target of devaluing the US dollar by 2% per year until it reaches it’s inherent value of zero, at 1.4% on Core PCE, this is right in line with what was expected.

Go figure. The markets are so delicate that there can be no surprises at all right now.

Personal spending was down slightly as incomes rose (as spending continues to exceed income):

But hey, everybody should be enjoying the awesome wage growth:



Amazingly, CME group is now putting the probability of a 50 basis points rate hike at nearly 10%:

These smashes should help flush out more open interest.

Stack accordingly…

– Half Dollar


About the Author

U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.

Paul’s free book Gold & Silver 2.0: Tales from the Crypto can be found in the usual places like Amazon, Apple iBooks & Google Play, or online at Paul’s Twitter is @Paul_Eberhart.