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Battle Shaping Up As to Whether the Dollar Has Another Leg Up or Not

Gold hasn't collapsed anymore. It's found its legs. Silver seems to have found its leg against the $23 level for the moment. Interest rates keep doing one thing: adding yield. 

On Friday Fed Chair Powell will speak and no, I don't expect him to change his tune on anything. I expect him to do exactly what he has said. The labor market surprised him. The economy is still resilient. Inflation is still running high and core numbers are too high. 

I'm not in agreement with him that shelter costs are going to fall. We have a shortage. I'm not just talking new homes. Used homes, people don't put them on the market. Even rentals are not falling in price very much.

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