Two major collapses are rocking markets today.
Very Bullish For Gold And Gold Miners
October 22 (King World News) – Peter Schiff: Investors are concerned about a slowdown in AI capex as borrowing to finance the buildout becomes more expensive and scarce. Gold and gold miners are down too, but since AI capex is all that’s keeping GDP positive, the impending recession is very bullish for gold and the miners.
Gold
Otavio Costa: Gold has already corrected nearly as much as it did in 2008.
Yet many are acting as if the selloff has only just begun.
I see an opportunity.
If this is the secular bull market I believe it is, we won’t get many chances to buy after a pullback like this, in my view.
OPPORTUNITY: KING WORLD NEWS NOTE: Gold Price Has Already Corrected As Much As It Did In 2008
Central Banks Keep Stacking Gold
Kalshi: JUST IN: Per Fortune, central banks worldwide are “secretly” stacking 4x more gold and moving it out of the US…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
Two Collapses Are Rocking Markets Today
This Is Getting Serious
The Kobeissi Letter: BREAKING: The Strategic Petroleum Reserve (SPR) fell -300,000 barrels last week, to 282.7 million barrels, the lowest level since October 1982.
Since March 20th, US oil inventories in the SPR have dropped -132.8 million, or -32%.
KING WORLD NEWS NOTE: US Strategic Oil Reserves Collapse Near Lowest Level In History
We have now seen drawdowns in 29 of the last 30 weeks.
For perspective, oil reserves in the SPR stood at 653.9 million barrels in 2020, or +131% above current levels.
Meanwhile, commercial crude oil stocks excluding the SPR dropped -3.1 million barrels last week, to 412.5 million barrels, the lowest reading since the end of July.
This is also ~3% below the 5-year average for this time of year.
America’s oil stockpiles are at critically low levels.
Housing Market
The Kobeissi Letter: BREAKING: The NAHB Housing Market Index fell -3 points in October, to 29, its lowest level since June 2012.
KING WORLD NEWS NOTE: US Homebuilder Sentiment Hits Lowest Level Since 2012!
This marks the 2nd consecutive monthly decline in homebuilder sentiment, totaling -6 points, marking the largest 2-month decrease since June 2025.
All 3 components deteriorated, with current sales falling -2 points, to 33, the lowest since June 2012.
Sales expectations dropped -5 points, to 32, the lowest since November 2022, while buyer traffic plunged -5 points, to 18, the lowest since April 2012, excluding the 2020 pandemic.
Furthermore, 43% of builders cut prices this month, the highest proportion of any month from 2020 to 2026.
The affordability crisis is putting further pressure on homebuilder sentiment.
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EXPECT PRICE SPIKES & SHORTAGES: Energy Crisis Now Impacting Food Chain CLICK HERE.
This Is A Truly Shocking Look At Gold And The Oil Market CLICK HERE.
We Don’t Own Enough Gold For What’s Coming CLICK HERE.
Something Interesting Is Happening With The Silver Market And Gold Miners CLICK HERE.
Michael Oliver Says He Cannot Be Bearish On Gold Even Though Many Chartists Are CLICK HERE.
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