12 September 2025 – 08:43 Central Euro Time

Record highs were recorded yesterday for both the Spoo (6600) and the S&P 500 itself (6593), even as retail inflation via headline CPI doubled its pace from from July’s +0.2% to now +0.4% for August; the month’s core pace was maintained at +0.3%, still ahead of the Fed’s desired 2% annualized target. Although September is notoriously known for being the year’s poorest S&P month, through its eight trading days-to-date ’tis +2.0%. This morning presently finds all three elements of the Metals Triumvirate above today’s respective Neutral Zones, whilst below same is Oil; session volatility for the BEGOS Markets is mostly moderate. Amongst the five primary BEGOS components, our best correlation currently is negative between the Euro and Oil. Currencies’ cac volume is rolling today from September into that for December. The Econ Baro finishes its somewhat negative week with September’s UofM Sentiment Survey. And tomorrow’s 826th consecutive Saturday edition of The Gold Update shall of course feature price having tapped the 3700 level.