This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.com

Housekeeping: Good Morning

Featured Analysis:

In Other News:

Data on Deck: GDP

MONDAY, JUNE 22

* 9a FOMC Member Waller Speaks

TUESDAY, JUNE 23

* 9:45a Flash Manufacturing PMI (prev 55.3 → est 54.6)

* 9:45a Flash Services PMI (prev 50.9 → est 51.0)

WEDNESDAY, JUNE 24

* 8:30a Current Account (prev -191B → est -219B)

* 10a New Home Sales (prev 622K → est 637K)

THURSDAY, JUNE 25

* 8:30a Core PCE Price Index m/m (prev 0.2% → est 0.3%)

* 8:30a Final GDP q/q (prev 1.6% → est 1.6%)

FRIDAY, JUNE 26

* 10a Revised UoM Consumer Sentiment (prev 48.9 → est 50.0)

* 10a Revised UoM Inflation Expectations (prev 4.6%)

***Please support Independent Media Buy a hat, mug, or hoodie today*** or Buy a Coffee for the GoldFix intern

Comment: What China’s Margin Hikes Really Mean

This round of margin increases by the banks is unusual.

Normally, banks raise margin requirements after prices have been rising for a long time. They do it to cool speculation and control risk.

But this time, margin requirements were raised after gold had already been falling for several months.

That is what makes it strange.