We’ve entered an extended rate cut cycle…
The question is, are you prepared?
Strange action in metals today.
Overnight, gold printed a new all-time high and then sold off through the U.S. session, dragging silver with it.
But once Europe closed, both turned higher and rallied back, and as I’m writing this we’re nearly back to the open.
Two tells made me suspicious of that midday dump:
- Copper held firm during the selloff. If we were seeing real “risk off,” copper usually doesn’t just sit there.
- Bonds held up, too. When gold’s getting hit for the “macro” reasons, you rarely see bonds steady at the same time.
Put those together and it felt more like position shuffling than a real change in trend. The snap-back into the close supports that idea.
For me, the plan hasn’t changed: I’m buying dips in gold and letting silver prove itself on the rebounds. If silver keeps following gold and starts taking out recent highs, I’ll press a bit more. If it fades again, I’ll keep size modest and wait for the next clean setup.
Heads-up: 401(k) “catch-up” rule change (effective 2026)
If you’re 50 or older and you’ve been using catch-up contributions to “supercharge” your retirement savings, there’s an important change coming in 2026:
- If you earn over $145,000 from your employer, your catch-up dollars will have to go in as after-tax Roth catch-up contributions instead of pre-tax.
- Translation: you can still do the extra contribution, but you pay the tax now and get tax-free growth later — instead of deferring the tax like before.
- That higher, “super-charged” catch-up window that kicks in around age 60 still exists, but for higher earners it’ll also follow the Roth rule when this takes effect.
Why the change? The government prefers to collect tax now rather than later. With the national debt ballooning like iit is, they’re nudging savers toward Roth so they can grab those extra dollars now.
Usual disclaimer: I’m not your CPA — this is market context, not personalized tax advice.
Stay sharp,
— Geof
