Loading ...Yesterday I pondered that pm shares will not go up unless the SM goes up. We may get to test that theory today if the metals can square themselves up – big “if”.
SM is up, Bitcoin blasting thru $102K up 3%. Oil flat. Dollar up firmly but 10 yr down 3 bips.
Whenever pm shares do nothing for a few days while the metals move higher, as has been the case for the last 4 days with the HUI, the metals have a tendency to get whacked. That appears to be the case today, at least with silver. No doubt gold will follow.
BTW – HUI was stuffed right at its 50 dma big surprise.
No eco data that will matter today.
Prepare for some suckitude