White House Says U.S. Will "Dictate" Policy in Venezuela, Bloomberg Rebalancing Won't Stop Silver or Gold Rallies; Pipe Dreams of Inexperience

Editor's Note: While preparing this report, Money Daily suffered a power outage from approximately 8:45 an to 9:25 am. We apologize for the delay. - FR

While the world sorts out the latest escapades of runaway rogue U.S. foreign piracy policy, a few items to consider:

White House Press Secretary Caroline Leavitt told reporters, "We’re continuing to be in close coordination with the interim [Venezuelan] authorities, their decisions are going to continue to be dictated by the United States of America."

Now, maybe that was a poor choice of words, because "dictating" is what dictators do, or maybe Ms. Leavitt had a purpose. Either way, it paints the U.S. as a hegemonic bully and President Trump as a dictator, ruling by dictate rather than legislation, otherwise known by that quaint, old term, "the rule of law." For all intents and purposed, the rule of law has been given the heave-ho.

Seizing Russian tankers, or, for that matter, the assets of any country, anywhere, at any time, is not going to endear those whose assets are seized, sanctioned, frozen, or stolen to the use of the U.S. dollar in international trade. The BRICS and associated countries have almost completely ditched the dollar, preferring bilateral trade deals settled in native currencies, yuan, gold, other commodities, the "unit", or a combination of such. De-dollarization is proceeding wiht alacrity. The sanctions and anti-trade policies of the U.S., U.K., and E.U, are accelerating the process, rather than impeding it.

The government was crowing about the U.S. trade deficit falling to its lowest level in 16 years, from $48.1 billion in September to $29.4 billion in October. Imports fell by 3.2% while exports rose by 2.6%, according to the BEA. The main driver of increased exports was gold, that had come into the U.S. previously, in response to potential tariffs, that was shipped back in October when policies were clarified. Fewer imports of pharmaceuticals, primarily from China, drove the numbers down. While some economists were blaring about how this will have a positive effect on fourth quarter GDP, taking a longer view suggests that the effect of tariffs is causing fewer imports, and, on the opposite end, some countries are refusing exports from the U.S.. The overall effect is simply a general decline in international trade with the United States, a prospect the administration failed to anticipate.

While cutting the trade deficit may be a short term positive development, it's likely that October's numbers are an aberration and what can be expected from here on out, until tariffs are lifted or ruled unconstitutional by the Supreme Court (a decision is expected by the end of January at the latest) is a continued decline of imports and exports, which make the entire tariff regime somewhat of a moot point. Chalk it up to inexperience.

At 8:30 am ET, the BLS delivered the December Non-farm payroll numbers, this, the first on-time delivery of the data since September. What the agency noted for inaccuracy at all times found was little change. Their terse statement read thus:

Both total nonfarm payroll employment (+50,000) and the unemployment rate (4.4 percent) changed little in December, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in food services and drinking places, health care, and social assistance. Retail trade lost jobs.

The report also noted that "payroll employment rose by 584,000 in 2025 (an average monthly gain of 49,000), less than the increase of 2.0 million in 2024 (an average monthly gain of 168,000)." In plain English, the labor market is in severe decline.

And, of course, there were revisions: "The change in total nonfarm payroll employment for October was revised down by 68,000, from -105,000 to -173,000, and the change for November was revised down by 8,000, from +64,000 to +56,000. With these revisions, employment in October and November combined is 76,000 lower than previously reported."

Stock futures rose, then fell on the release. Gold and silver both gained. For whatever reason, WTI crude futures spiked about a buck, to nearly $59, despite the president explicitly stating that oil prices would decline. More inexperience.

One final note. Much has been noted the past few days about the rebalancing of the Bloomberg Commodity Index and how this would have a negative impact on the price of gold and silver, and other commodities that have shown strong gains over the past year. It's a complete canard, a rallying cry for the COMEX riggers to keep the U.S. dollar dominant at a time in which it is gyrating toward death throes. It is already underway and the best they've been able to do is keep silver from spiking above $80 and gold above $4,500.

There's certain to be some forced selling, which the Chinese industrialists will immediately buy. The price of gold, silver, copper aluminum are already well upon a trajectory signaling a global resource war and Bloomberg's vain attempts to influence the trend should be dealt with as anything emanating from the Bloomberg news desk is: ignore it. At worst, for a month or less, gold and silver won't rise as quickly as they did in 2025. The rebalancing began on January 8 (yesterday) and will be complete on January 14 (next Thursday). It is already underway with little material impact. The most astute and experienced traders have already priced in any effect it may have.

Gold is higher today, at $4,482, as is silver, $79.01.

The U.S. economy and its leadership is in tatters and is unlikely to be revived by the heavily-promoted AI buildout. The U.S. is light years behind China in terms of long range economic development and is losing ground to India and Russia and to other emerging market nations aligned with the BRICS.

Do not be fooled by serial liars and promoters of false narratives.

Carry On, and Don't Panic; Global Condition in Turmoil; Tariff Decision, Earnings Will Add to General Confusion

Considering the events of the past few days, in particular, the Venezuelan experience and the boarding and seizure of a Russian tanker, along with the excessive rhetorical expressions coming out of official Washington, it's difficult to assess the political calculations and ramifications, making economic decisions even more dicey than usual.

At times such as these, wherein the impulse to panic is prevalent, it's usually best to take a deep breath, try to ascertain exactly what's happening, and just watch as events unfold. When some direction can be formulated, then, perhaps, is time for action, be that doubling down on investments, rotating out of some sectors and into others, rethinking allocations or standing pat. These are decisions individuals must make using their own judgement, taking into account time horizons, differences of opinions, and one's own financial position.

Currently, and, unfortunately, Money Daily is unable to formulate any coherent strategy that aligns with what appears to be radical actions on the part of the U.S. government that are impacting just about everything on the planet. While it appears that President Trump is hell-bent on imposing the will and military might on primarily the Western Hemisphere, one cannot discount the effect on Europe, Asia, Africa, the Middle East and especially the BRICS and countries aligned with them. For outward appearances, it can partially be assumed that the ouster of Nicolas Maduro from Venezuela effectively cut off Russian and Chinese access to at least that country's oil, and likely most of its natural resources. The world is in the very early stages of a monumental shift, making the wait-and-see attitude the most prudent form of action, or, as the case may be, inaction.

There is certain to be blowback on various fronts, but making an accurate assessment of how conditions change or play out over the next weeks and months is a difficult undertaking of which few will eventually be proven correct. The United States does not act in a vacuum. Its actions affect the entire world, and, thus, nobody can be certain to a high degree of confidence where this is all going.

The most immediate effects have been, so far, engineered losses on primarily silver and bitcoin. Spot silver plateaued around $82.50 late Tuesday and since has been under assault, the price declining to as low as $74.43 as of this writing. Bitcoin, after catapulting to $94,747 on Monday, has fallen to below $90,000. These two "alternatives" to fiat dollars have taken on similar pathways, a condition that appears to be by design. Gold has declined, though not as rapidly or obviously as the other two financial assets. It peaked just below $4,500 an ounce, which constitutes obvious resistance, but has fallen by lss than $100, a pittance, by comparison.

Stocks may be experiencing some short-term panic due to overbought conditions. With the level of uncertainty prevailing, one cannot fault investors for taking money off the table or moving to more defensive positions. After all, the major averages are either at or very close to all-time highs. It would be somewhat amazing if they continued to climb during the turbulence that is just beginning to be played out.

Approaching the open for stocks in the U.S., futures are lower across the board, with the Dow leading, down 180 points. The S&P is down nine and the NASDAQ is lower by 45 points.

WTI crude oil is a focal point, being that the recent geo-political scene has crude at its center. While it's up a dollar this morning, the high price of $57.15 seems indicative of merely being noise rather than signal. The jury on oil, and, likely, most other tradable assets, remains out.

Overlaying everything is the Supreme Court ruling on the constitutionality of Trump's tariffs which may come to fore as early as tomorrow, making nay kind of speculative activity fraught with danger. Next week, earnings begin to roll out, beginning with the big banks, which will only add to the confusion.

Patience is about the only advisable strategy that makes sense for now.

At the Close, Wednesday, January 7, 2026:
Dow: 48,996.08, -466.00 (-0.94%)
NASDAQ: 23,584.28, +37.10 (+0.16%)
S&P 500: 6,920.93, -23.89 (-0.34%)
NYSE Composite: 22,341.23, -229.59 (-1.02%)

With No Guardrails and No Competition for U.S. Imperialism, Stocks Will Soar to Incredible Heights in 2026

Resistance is futile. It's also non-existent in a market run by BlackRock and Vanguard.

Barring any unforeseen shocks - and maybe even in spite of them - stocks are set to soar to incredible heights over the next three to six months, as the U.S. imperial locomotive chugs along, undeterred by rules, laws, or national boundaries. The lengths the U.S. government is willing to go to secure resources and keep the dollar the world's reserve currency have no limits.

There is no country either willing or capable of stopping the aggressive nature of the newly-branded "Donroe Doctrine", re-establishing the United States as the sole dominating power in the Western Hemisphere. If the U.S. needs oil, it takes it from Venezuela. Silver, Peru and Mexico have plenty, the U.S. will take its share. Other natural resources, such as rare earth minerals and foodstuffs will be taken as needed, bargained off to the largest U.S. corporations with tacit approval, and, as has already become standard practice, either government financing or direct participation via equity ownership.

The policies being played out by the Trump administration absolutely disregard any international law or accepted behaviors. America has become the backyard bully and they will take what they need. This much has been made clear by actions in Venezuela and threats against Mexico, Columbia, Canada, Cuba, and Greenland.

If it's in the Western Hemisphere and we want it, we will take it. That's the message from the White House.

The effect this kind of imperial mercantilism has on stocks should be nothing short of fantastic. Goods, services, raw materials, energy, strategic metals and more will flow to U.S. shores, producing prosperity for the American people. That's at least the narrative for now. The reality is that Washington D.C. insiders and Wall Street speculators will gorge themselves on treasures and rising stock prices. Inflation, which will be aided by whomever the president chooses as the next Chairman of the Federal Reserve, may actually stabilize aorund three to five percent annually, as increased access to goods are offset by rising wages and lower interest rates.

The Trump administration truly doesn't worry about inflation as a deterrent to winning the midterm elections, which is part of the plan. They can rely uon political operatives embedded within agencies and the captured news media to dummy up the numbers enough to satiate any remnants of skeptical public.

The Dow Jones Industrials set a new record high close on Tuesday, as did the Transportation Average, confirming the bull market and primary trend, a major signal for bulls. From this point, already at record highs, there is no limit. One might as well throw darts at the stocks listed in the Wall Street Journal because the buying will be frantic, extreme, and not governed by any kind of discipline. Everything is going up. The economy and the re-election of a Republican majority in congress depends on it.

Outside the United States, there is growing concern that the world's major superpower may take its own hubris to heart, expanding its snatch and grab tactics to areas outside their sphere of influence in the Western Hemisphere. China, Russia, and India in particular will monitor developments closely even as they continue their plans for a multi-polar global environment and their own brands of mercantilism, backed by gold and resources.

The big game is reaching a new level in 2026, but, if there's anything that looks like a major slam dunk, it's that stocks will see huge gains for most of the year. There's a rotation into energy, industrials, raw materials, health care, and military sectors that figure to perform the best.

At the Close, Tuesday, January 6, 2026:
Dow: 49,462.08, +484.88 (+0.99%)
NASDAQ: 23,547.17, +151.37 (+0.65%)
S&P 500: 6,944.82, +42.77 (+0.62%)
NYSE Composite: 22,570.82 +138.72 (+0.62%)

Stocks Soar on Maduro Capture, Prospects for Big Oil Advance; Gold, Silver Continue to Rally

Since they have no self-correcting mechanism to speak of, there may not be much trust in financial markets as they spiral higher toward infinity. What matters most in the impression of prosperity, reinforced by high balances in 401k and various other passive investment funds, the so-called "wealth effect" espoused by former Fed Chairman (and, notably, Nobel Prize winner in economics) Ben Bernanke and the hordes of Keynesian economists that crowd the chasm of economic thought.

The possibility of a correction in the stock market is likely at an extreme low presently, now that kidnapping leaders of sovereign nations has become the market stimuli de jour. Traders celebrated the capture of Venezuelan president and "drug kingpin" Nicolas Maduro with a knee-jerk reactionary rally on Monday, as if taking out the leader of a country rich in resources and within close proximity of U.S. borders ensured that oil companies like ExxonMobil, Chevron, and others would extract precious heavy crude, refine it, and apply the profits directly to their bottom lines.

Just as sure as the sun rises in the East, Chevron (CVX, 163.85) gained 7.95 points (5.10%), and ExxonMobil (XOM, 125.36) added 2.71 (+2.21%). The former, Chevron, is a Dow component. ExxonMobil is not. Gains on Chevron helped fuel (pun intended) the Dow Jones Industrial Average to a record close.

Perhaps a better way of saying that the stock market is unable to correct, is that the "market" is, and has been for some time, controlled by heavy-handed large institutions. BlackRock and Vanguard come immediately to mind. They are major holders of almost every stock listed on the Dow and the S&P. The NASDAQ, largely the province of technocratic oligarchs of the magnificent seven, has its own throttle, which has been kept wide open by the likes of Google, Amazon, Apple, Nvidia, et.al. Thus, the broad indices are routinely kept afloat by vested interests. A sudden collapse is out of the question. Even the possibility of a subtle decline seems remote in the current environment, though doubters remain.

This may seem a little far-fetched to some people, but to Dow Theorists, it is all that matters when it comes to determining primary market trends.

On November 25, 2024 the Dow Jones Transportation Average closed at an all-time high of 17,754.38. On Monday, January 5, 2026, the average closed at 17,737.81. The "Trannies" have been inching closer to the all-time high since mid-December, but Monday's close was the first above 17,700. During the week of Christmas, the Transports closed above 17,635 four straight sessions, with the 25th a day off for the holiday.

Failing to break above the previous high, the transportation average continues to thwart the cheerleaders of the general rally, acting as a governor against the wide open throttle of the Dow Industrials. Dow Theory asserts that the Transports must confirm the rally in the Industrials by exceeding its own all-time highs. Otherwise, the primary trend remains unchanged, and bearish, the gains on the Dow - and, by extension, the S&P and NASDAQ - are all froth and no substance.

On the one hand, Dow Theorists may have a compelling argument, given the environment. On the flip side, suggesting that stocks may be a little overvalued seems to be impolite at least, imprudent at worst. Nobody wants to suffer the slings and arrows of denying the greatness of the United States economy or miss out on the spectacular profits from sitting idly by as markets swirl to ever great heights.

There may be more to defining the underpinnings of the market and general U.S. economy. Aligned with the Dow Theorists are goldbugs and silver stackers, the curmudgeons who complain about market interference in commodities and suppression of their precious metals. While most of them are probably diversified across asset classes, including stocks, they, taken as a nebulous group of malcontents, make the argument that not just stocks, but the U.S. dollar is vastly over-rated in terms of purchasing power and global dominance. They can rest their assumptions on inflation data and their own profits in gold, especially, and increasingly by the unruly advances in silver.

They certainly can make the case for hard assets over paper promises. Gold and silver are ripping higher this morning after solid sessions Monday. Stock futures are flat with the cash market opening within minutes. Whether their arguments for honest money ever come to fruition will be borne out by the very markets in which they trade and the realities of geo-politics and a burgeoning resource war.

For now, the jury remains out.

At the Close, Monday, January 5, 2026:
Dow: 48,977.18, +594.79 (+1.23%)
NASDAQ: 23,395.82, +160.19 (+0.69%)
S&P 500: 6,902.05, +43.58 (+0.64%)
NYSE Composite: 22,432.10, +198.21 (+0.89%)

WEEKEND WRAP: Venezuela Under U.S. Control Changes the Global Oil Calculation; Gold, Silver lower, but Steady; Stocks End 2025 on Down Note

What better way to start off the new year than to take over another country?

Well, sometimes, you get what you want, if what you want is, according to Wikipedia:

...officially the Bolivarian Republic of Venezuela, a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in the Caribbean Sea. It comprises an area of 912,050 km2 (352,140 sq mi), with a population estimated at 31.3 million in 2024. The capital and largest urban agglomeration is the city of Caracas. The continental territory is bordered on the north by the Caribbean Sea and the Atlantic Ocean, on the west by Colombia, Brazil on the south, Trinidad and Tobago to the north-east and on the east by Guyana.

Venezuela struggles with record hyperinflation, shortages of basic goods, unemployment, poverty, disease, high child mortality, malnutrition, environmental issues, severe crime, and widespread corruption. U.S. sanctions and the seizure of Venezuelan assets overseas have cost the country $24–30 billion.

Where has the U.S. ventured into similar areas in the recent past? It's a short list:

• Afghanistan, population 20 million in 2001
• Iraq, population 25 million in 2003
• Ukraine, population 41 million in 2014

What do these countries have in common when it comes to U.S. involvement? Lots of military involvement, high death tolls, puppet governments, $$$ trillions of U.S. government money spent.

Venezuela fits nicely into this grouping. Similar to Iraq in terms of oil, Venezuela boasts the world's largest oil reserves, most of it heavy crude, but the U.S. has plenty of heavy crude refineries, many in the Gulf (of America or Mexico, take your pick) States of Texas and Louisiana, so getting the oil from Venezuela to the U.S. poses little difficulty, since, as President Trump stated unequivocally in his press briefing Saturday, the U.S. will "run" the country until a suitable government can be established. Figure on at least five years for that.

The immediate concern, beyond getting all of the country's oil out of the ground and into U.S. refineries, is the welfare of the 31 million Venezuelans living in a country without a legitimate government, a collapsed economy, and verious other issues. Humanitarian issues have not so far been addressed. One might suppose, given the nature of the current administration, that large corporate entities like PepsiCo (PEP), Archer Daniel Midlands (ADM), Tyson Foods (TSN), Coca-Cola (KO), KraftHeinz (KHC), Unilever (UL), and General Mills (GIS), might get first dibs on production facilities, farmland, and distribution operations. How they will manage their newfound booty, should it materialize, is an open question.

The other burning question is whether or not there will be any large scale insurrection or opposition to the self-imposed rule by the United States. One would assume some pushback, but, given the nature of the removal of President Maduro, it appears the Venezuelan military doesn't want to get very much in the way of U.S. armed forces, which have risen to significant levels over the pst few months. The U.S. will almost surely put boots on the ground. With any luck, the civilian population won't protest very much.

Whether or not things go differently in Venezuela than in the failed experiments at nation-building in Afghanistan, Iraq, and Ukraine may hinge on the country's proximity to the U.S. mainland. Unlike the other failures, this should go easier, though there are certainly no guarantees.

As a part of the Trump administration's "America First" and revived Monroe Doctrine policies, taking over a large country loaded wiht natural resources seems like a good fit, though if the situation turns into another extended military obligation, the U.S. public, to the extent they're kept in the dark over developments down south, may not approve. Even with the initial takeover still underway, protests have been sounded from the usual sources on the left side of the political spectrum. In general terms, Democrats opposed the action, Republicans approved. The administration is framing the action as an arrest and a law enforcement action. Maduro, his wife, and others were indicted in the U.S. District Court, Southern District of New York and had been indicted for drug trafficking and other crimes back in 2020.

How all of this plays out remains very much a matter of speculation. The likeliest of outcomes, at least in the near term, is for U.S. companies to go in and seize as much of the country's resources as possible, probably under protection of the U.S. military. Longer term, it's likely that the native population isn't going to be very friendly toward its new rulers. By and large, the U.S. couldn’t care less about Venezuelan citizens. As long as there are men with guns on the ground, the U.S. will plunder at will, protests will be quelled, likely by the co-opted Venezuelan military, and the country as a whole will continue to suffer. U.S. interests will benefit. Nothing new there.

Stocks

Being that the week just past was at the intersection of December 2025 and January 2026, it wouldn't be prudent to make any claims about what may lie ahead, especially with the insertion of the Venezuela angle. Suffice it to say that stocks didn't end the old year well, nor did they start off the new year with a resounding bang.

All of the majors suffered losses for the week, led by the NASDAQ's decline of 1.52%. As usual, talk in the week ahead will mention the January effect, with the implication that an upside market in the first month of the year bodes well for the remaining 11 months. It has been a fairly reliable gauge, worth keeping an open eye upon.

There are a few companies of lesser importance announcing fourth quarter earnings in the week ahead, though the quarterly earnings season will kick off with the week starting Monday, January 12, when larger financial institutions, beginning with JP Morgan Chase (JPM) on Tuesday, January 13, and Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C) on Wednesday, January 14, report.

Employment and the labor market will be the focus of the first full week of trading in the U.S., with the monthly ADP employment report due out on Wednesday along with December job cuts from Challenger, Gray, and Christmas. On Friday, the BLS gets back on a regular schedule with the December non-farm payrolls, expected to show job gains of 55,000 for the month, down slightly from November's gain of 64,000, which is likely to be revised lower.

Wall Street will be keenly aware of the employment figures, given they will factor into the Fed's thinking concerning rate movement at the next FOMC meeting, scheduled for January 27-28.

Treasury Yield Curve Rates

Date	1 Mo	1.5 mo	2 Mo	3 Mo	4 Mo	6 Mo	1 Yr
11/28/2025	4.05	3.97	3.99	3.88	3.86	3.74	3.61
12/05/2025	3.82	3.78	3.77	3.71	3.73	3.68	3.61
12/12/2025	3.76	3.75	3.75	3.63	3.64	3.58	3.54
12/19/2025	3.71	3.71	3.72	3.62	3.64	3.60	3.51
12/26/2025	3.70	3.69	3.72	3.64	3.66	3.58	3.49
01/02/2026	3.72	3.71	3.66	3.65	3.62	3.58	3.47

Date	2 Yr	3 Yr	5 Yr	7 Yr	10 Yr	20 Yr	30 Yr
11/28/2025	3.47	3.49	3.59	3.78	4.02	4.62	4.67
12/05/2025	3.56	3.59	3.72	3.90	4.14	4.75	4.79
12/12/2025	3.52	3.58	3.75	3.95	4.19	4.82	4.85
12/19/2025	3.48	3.53	3.70	3.91	4.16	4.77	4.82
12/26/2025	3.46	3.54	3.68	3.89	4.14	4.76	4.81
01/02/2026	3.47	3.55	3.74	3.95	4.19	4.81	4.86

Analysts are split on the direction of interest rates in the U.S. for the year ahead. Those most bullish on prospects for continued growth see long-dated maturities falling, while the bear campers see them rising due to instability and geo-politics. The Venezuelan situation seems to align with the bears, and the direction over the past week offers an advanced view. 10-year notes yielded 4.19% on Friday, up five basis points from the previous week, with 30-years bond yields up the same amount, to 4.86%.

On the short end, one month bills remain tethered to the high end of the range, at 3.72%. Unless the Fed exercises some degree of curve control, U.S. adventurism isn't likely to encourage foreign buyers. A seeming continuation of "forever wars" policy hasn't gone over well, per early reporting. Most countries in the Asian sphere of influence have issued statements condemning the U.S. foray into regime change, indicating foreign buying continuing to dry up, possibly at a quicker pace.

Spreads are approaching nose-bleed levels, with 2s-10s at +72 and 30-day-30-year (full spectrum) out to +114, both multi-year highs. While that steepening of the curve tends to signal positively, the overall health of the treasury market continues to suggest something amiss. The Fed has shelled out $74.6 billion on Wednesday, December 31 via its standing repo operation. That's a large amount of liquidity needed by somebody. Speculation is running rampant that one of the larger bullion banks needed help financing losses from shorting silver futures. Others believe it wasn't a large bank, but possibly some smaller market participants. The information is cloudy at best. As is the usual case with such matters, the public will be the last to know.

Spreads:

2s-10s
2025
1/3: +32
1/10: +37
1/17: +34
1/24: +36
1/31: +36
2/7: +20
2/14: +21
2/21: +23
2/28: +25
3/7: +33
3/14: +29
3/21: +31
3/28: +38
4/4: +33
4/11: +52
4/17: +53
4/25: +55
5/2: +50
5/9: +49
5/16: +45
5/23: +51
5/30: +52
6/6: +48
6/13: +45
6/20: +48
6/27: +56
7/3: +47
7/11: +53
7/18: +56
7/25: +49
8/1: +54
8/8: +51
8/15: +58
8/22: +58
8/29: +64
9/5: +59
9/12: +50
9/19: +57
9/26: +57
10/3: +45
10/10: +53
10/17: +56
10/24: +54
10/31: +51
11/7: +56
11/14: +52
11/21: +55
11/28: +55
12/5: +58
12/12: +67
12/19: +68
12/26: +68
2026
1/2: +72

Full Spectrum (30-days - 30-years)
2025
1/3: +38
1/10: +54
1/17: +41
1/24: +40
1/31: +36
2/7: +32
2/14: +32
2/21: +31
2/28: +13
3/7: +24
3/14: +25
3/21: +23
3/28: +26
4/4: +5
4/11: +38
4/17: +44
4/25: +40
5/2: +41
5/9: +46
5/16: +52
5/23: +68
5/30: +59
6/6: +69
6/13: +67
6/20: +69
6/27: +66
7/3: +51
7/11: +59
7/18: +65
7/25: +55
8/1: +32
8/8: +37
8/15: +44
8/22: +41
8/29: +51
9/5: +49
9/12: +40
9/19: +54
9/26: +55
10/3: +47
10/10: +43
10/17: +42
10/24: +48
10/31: +61
11/7: +69
11/14: +70
11/21: +68
11/28: +62
12/5: +97
12/12: +109
12/19: +111
12/26: +111
2026
1/2: +114

Oil/Gas

WTI crude closed out the week at $57.33, up only slightly from the prior Friday New York close of $56.93. The Venezuela effect will be seen on Monday, with an expected price drop of possibly mammoth proportions. As the week and month rolls on, there may be a print in the $40s for the first time in more than five years.

The U.S. national average for gas at the pump dropped just a penny to $2.78, the lowest price in roughly five years, according to Gasbuddy.com. Given the current state of play, gas prices should continue to decline over the near term and possibly more rapidly, considering the situation in Venezuela.

California remains the highest in the lower 48 states, down another two cents at $4.23 per gallon, but even that figure is down substantially from six months and a year ago. Washington ($3.80) is down another five cents, leaving the Golden State alone in the $4+ club. Oregon ($3.37), was down another nickel. The lowest prices remain in the Southeast, with Oklahoma catching down six more cents to $2.16, a multi-year low. Neighboring states, Colorado ($2.27), Texas ($2.34), and Arkansas ($2.35), also experienced lower prices. The remaining Southeast states are all below $2.61 with the exception of Florida ($2.82).

In the Northeast, prices continue to decline. Only Vermont ($3.03), New York ($3.01), and Pennsylvania ($3.00) are at or above $3.00.

In the midwest region, where the price relief has been significant, Illinois ($2.87) dropped another four cents and remains below $3.00 for a third consecutive week. At the low end were Colorado ($2.27), Kansas ($2.40), and Nebraska ($2.42).

Sub-$3.00 gas was reported in fully 40 states, the same as last week and up 14 over the past month. Arizona may be the next to fall, checking in at $3.01 this week. Not including Alaska and Hawaii, there are just eight states with gas prices above $3.00 and just one, California, over $4.00.

Bitcoin

This week: $91,306.05
Last week: $87,661.04
2 weeks ago: $88,044.85
6 months ago: $108,230.00
One year ago: $98,355.51
Five years ago: $32,090.97

Since the seizure of President Nicolas Maduro on Saturday, a story has been circulating about how the Venezuelan "cartel" converted some of its oil and gold profits into roughly $60 billion worth of bitcoin. It's the same kind of empty propaganda that usually causes the kind of price movement that was seen overnight into Sunday, a move of about $2,000. While, if true, $60 billion in bitcoin is hardly worth mentioning in the larger scheme of things, what the story does inadvertently point out is that bitcoin is indeed employed by criminals and terrorists to launder and hide money from financial authorities, though nobody in the crypto community seems capable of relaying that message clearly enough.

Bitcoin remains in a downtrend, one that many analysts are saying could reach as low as $50,000 or $30,000 in 2026. One prominent voice has called for a bottom around $10,000, though that would imply an extreme number of beached whales.

Precious Metals

Gold:Silver Ratio: 59.94; last week: 57.18

Futures, per COMEX continuous contracts:

Gold price 12/5: $4,227.70
Gold price 12/12: $4,329.80
Gold price 12/19: $4,368.70
Gold price 12/28: $4,562.00
Gold price 1/2: $4,341,90

Silver price 12/5: $58.80
Silver price 12/12: $62.08
Silver price 12/19: $67.39
Silver price 12/28: $79.68
Silver price 1/2: $72.26

SPOT:
(stockcharts.com)
Gold 12/5: $4,196.63
Gold 12/12: $4,297.29
Gold 12/19: $4,337.83
Gold 12/26: $4,533.00
Gold 1/2: $4,331.09

Silver 12/5: $58.28
Silver 12/12: $62.01
Silver 12/19: $67.21
Silver 12/26: $79.27
Silver 1/2: $72.25

Prices for precious metals once again were affected negatively by so-called "Mr. Slammy", the elements of price suppression that have been operative for the past 40 to 50 years. While the declines on the COMEX were regular and serious enough to take gold down from above $4,500 to a support level around $4,330 on Monday, December 29, price seems to have held through two CME margin hikes over the span of just one week. Silver was similarly affected, down from a brief high over $80 to support in the $71-73 range.

In addition to the CME margin raises, China invoked licensing requirements for exporters of silver, which will serve to tighten the physical market even further. The struggle between the paper price and the physical price continues, though it has become apparent that the usual COMEX hijinks are having lesser effects. The new year just underway, it's still to early to predict where the major powers are taking precious metal prices. The U.S. incursion into Venezuela will have some impact, though it is likely the response from the BRICS and China in particular be more in the way of a larger, policy-related manner when it comes to silver. As far as the price of gold is concerned, there doesn't seem to be an upper limit.

Prices may fluctuate over the near term, but the major, primary trend remains to the upside. Platinum and palladium have also seen strong price appreciation lately as part of a general commodity super-cycle.

Silver's long term shortage appears to be very much a part of the metals narrative and industrial use is likely to support higher prices in the intermediate and longer term. Retail buying of both gold and silver is still in a nascent state, though signs of strong buying have begun to crop up in Asian and Middle East markets. The desire to own gold and silver on an individual basis is much stronger in the Global South than in Western developed nations. Physical price will eventually take precedence over derivative pricing via the COMEX and LBMA, but, for now, the world seems content to allow the suppression games to continue.

Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):

Item/Price	Low	High	Average	Median
1 oz silver coin:	74.56	90.00	81.54	79.50
1 oz silver bar:	80.00	89.99	85.82	86.44
1 oz gold coin:	4,411.95	4,751.88	4,550.25	4,532.36
1 oz gold bar:	4,487.60	4,681.33	4,536.24	4,521.06

The Single Ounce Silver Market Price Benchmark (SOSMPB) finally cooled off a bit, falling to $83.33, a decline of $2.42 from the December 28 price of $85.75 per troy ounce. The weekly movement is in line with wider volatility in world markets.

WEEKEND WRAP

Politicians and their advisors are human, and, as such, are prone to err in judgement, actions, words, and deeds. The masterminds behind Saturday's Venezuelan escapade must have certain goals in mind and they will affect large numbers of people, not just in South America, but around the world. Whether they have calculated correctly or not cannot, at this juncture, be adequately anticipated since there are too many moving parts in play. Details are likely to be well hidden from public scrutiny, but, as far as can be seen, the main focus was oil and the purpose, to keep prices down to harm Russia, Iran, and more directly, China, which was on the receiving end of much of Venezuela's output.

Lower oil prices will also enhance President Trump's popularity at home, via lower prices at the pump, which are already down significantly from a year, two, and three years ago. The political angle - to retain the Republican House and Senate majorities in November - is obvious. They have 10 months to get things sorted out south of the border. Perhaps there is a plan afoot for further incursions into South America, having already established a foothold, though those operations may not occur until after the elections, or, if emboldened, as an October surprise.

The world has become a giant chessboard, or, more likely, a poker table for Texas no-hold 'em. The Trump administration has been deft at not revealing motives, but China, Russia, India, the BRICS, and importantly, Brazil, have hands to play as well, and they may be setting up America to go all in with what appears to be a winning hand. Clearly not bluffing, the U.S. empire faces immediate and intermediate dangers. The year upon us seems to be one full of surprises. Strap in. It's likely to be a bumpy ride.

At the Close, Friday, January 2, 2026:
Dow: 48,382.39, +319.10 (+0.66%)
NASDAQ: 23,235.63, -6.36 (-0.03%)
S&P 500: 6,858.47, +12.97 (+0.19%)
NYSE Composite: 22,233.89, +229.96 (+1.05%)

For the Week:
Dow: -328.58 (-0.67%)
NASDAQ: -357.47 (-1.52%)
S&P 500: -71.47 (-1.03%)
NYSE Composite: -12.67 (-0.06%)
Dow Transports: -111.82 (-0.63%)

Disclaimer: Information disseminated on this site should not be construed as investment advice. Downtown Magazine Inc., Money Daily and it's owners, affiliates and/or employees are not investment advisors and do not offer specific investment advice. All investments have risk. You should consult a professional investment advisor or stock broker or use your individual judgement when making investment decisions. By viewing this site, you hold harmless Downtown Magazine Inc., Money Daily, its owners, affiliates and employees against any and all liability. Copyright 2025, Downtown Magazine Inc., all rights reserved.