Given that gold prices have declined over $80 since reaching $1363 on September 7th, one might think that we have been under the sentiment of a bear market in gold and that prices will most likely continue to decline.

A combination of factors have resulted in dramatically lower pricing in both gold and silver today. As of 4 o’clock EDT, gold futures are trading off by $15.50, with the most active Decembers contract currently fixed at $1286.20. Spot gold is also trading sharply lower this morning, currently off by $10.60.

Over the last two days, we have seen gold prices oscillate dramatically, gaining 1.2% yesterday, only to see prices decline by almost a full percentage point today.

The war of words between the United States and North Korea has now accelerated to a new and more dangerous level of concern. Recent statements and threats made on the part of North Korea have escalated the current tension and hostility between our two countries.

In an attempt to curtail North Korea’s initiative to become a nuclear power, President Trump issued an executive order yesterday that would reprimand any person, company, or country that did business with North Korea. This move was directed at North Korea’s primary trading partners.

Words of elegance rarely fall from the lips of many T.V. financial commentators as they report events that revolve around the world of business news. That’s not their job. Their task is to report financial news in a concise and factual manner, which for the most part they do extremely well.

In their first meeting since July, the Federal Reserve has indicated that there will be one more interest rate hike this year, which is scheduled for December. They also announced the date when they will begin to liquidate portions of their massive $4.5 trillion balance sheet. This will begin in October.

In classic Trump style, the President of the United States has given the North Korean leader Kim Jong-Un a new nick-name.  “Rocket Man is on a suicide mission for himself and for his regime.”

U.S. equities closed solidly higher today, continuing the risk-on environment that has been prevalent in the marketplace. The Dow Jones closed up 63 points, with the S&P 500 as well as the NASDAQ closing moderately higher on the day.

The “Writing on the Wall” is an idiomatic expression suggesting portent of doom or misfortune, according to Wikipedia. This expression is based on the story of Belshazzar's feast in the book of Daniel. During the feast, Belshazzar sees a hand writing on the wall which he believes is foretelling the fall of Babylon.