The VIX spiked higher today, and gold and silver rallied with the Swiss franc as the market felt a chill of Winter run up their backs.
Conventional wisdom points to the sudden rise of Donald Trump in the polls, pulling even with Hillary, at least in the popular vote.
To sharpen it down to a fine point, today was all about the fear of the unknown, for those who are so comfortable and accustomed to be winning. The ‘establishment’ does not care one bit for this added uncertainty.
But we also have the central banks mucking about, and plenty of global tensions to go around that are normally pushed aside by the market mavens.
But every once in a while they pause in their exceptional giddiness, and begin to wonder, and to think about the real future may hold for them.
Let’s see if gold and silver can add to the gains, or at least get past the FOMC and the NFP numbers on Friday unscathed.
Posted by Jesse for Jesse’s Café Américain ~ November 1, 2016.
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