Loading ...Fridays action, where Gold was down, as the spreads unwound, has I think fooled the Algo’s to pile on more shorts in PM shares…..the Algo’s are very linear, they only see what area they trade…they cannot see the spreads causing the weakness…..that’s my guess.
Gold looks to be a in a bear hesitation, probably doing the C down…but that C down may just be sideways….which would be super bullish, if a downside correction can only go sideways.
Meanwhile the spreads continue to narrow. So Plat and Ag rally more.