Gold And Silver Fall, Big Banks Rise As Democrats Expected To Gain Super Majority In US Senate (10Y Treasury Note Yield Rises Above 1%)

Just like 2009 when Obama was elected President and the Democrats had a super majority in Congress. If the Senate if split, VP Kamala “Fweedom” Harris is the tie-breaker. Hence, Democrats will have a super majority. = UNCONTROLLED FEDERAL SPENDING!!!

Gold and silver fell as Democrats took the lead in the two Senate elections, and big banks rose.

Even tech-heavy NASDAQ fell on the prospect of a Democrat super majority in Congress.

Meanwhile, the US Treasury 10Y yield broke through the 1% barrier.

UPDATE as of 11:30 AM EST with 10 year Treasury Note price (green)

UPDATE: As least silver is rising a bit after slumping.

The Dow rose 2% on the prospect of uncontrolled government spending. Gov’t contractors delight!