Loading ...Ugly out as the SM, oil, and the dollar soar. Rates also up to 4.44% on the 10 yr., awful close to 4.5% which is supposed to be the tipping point for the SM
Gold getting creamed, down over $100 or 3%. Silver is down 2%, after being up most of the night. They flipped a switch about 3 am eastern, gold was down $40 and silver up $.30, then came a huge dump.
Going to be ugly no matter what today for pm’s, probably a lot of hedge funds going to get creamed on the SM rally which is up over 3% as well. Shorts are going to get caught.
All of this is news driven, hard to know if it’s a trend change. The best we can hope for is that the Crimex takes this opportunity to cover. I’m particularly interested in how silver does because for the longest time it has underperformed gold and has always done worse on days like this.
Hoping it’s not the beginning of the summer sorrows.