Housekeeping: Good Morning.

“The reset is a process, not an event”

Topic:

* Silver Surge

* Fed Day

Market Analysis:

Silver began its rally early in the European session, with buying pressure accelerating around 5 a.m. ET, shortly after the London market opened. Prices jumped from $36.54 to $37.16 in under an hour, ultimately hitting a high of $37.25 by midday before settling just below that at $37.09. That represents a 1.5% gain, outperforming all other major metals.

* Full analysis in the Premium post GoldFix PM: The Silver Bull Begins

Stocks are very dovishly biased these past two weeks. There is one reason to not be so biased bullish. The Fed Dot Plot still shows a bias of 2 rate cuts this year. All eyes will be on that for revisions downward towards one cut, which is increasingly likely given the clock is now at midyear.

* Continues in Premium’s FOMC: Powell's Risks Contradicting himself today

Related Posts:

Coming Soon:

Lots…

Data on Deck: Fed Week

* MONDAY, JUNE 16 8:30 am Empire State manufacturing

* TUESDAY, JUNE 178:30 am U.S. retail sales

* WEDNESDAY, JUNE 18 8:30 am Housing starts, 2:00 pm FOMC rate decision

* THURSDAY, JUNE 19 None scheduled, Juneteenth holiday

* FRIDAY, JUNE 20 8:30 am Philadelphia Fed survey

* Full calendar

Summary and Final Market Check…

* June 30th for Silver

* BRICS Summit Starting Soon

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