and the metals took off to the upside. Things are settling in now with silver up $1.30 at $70.45. Got above $71 briefly. Plat and Pall also broke to the upside.
Gold went mildly positive and is up a whopping $8, but $40 off its lows. Someone desperately needs gold at $4600 IMHO.
I don’t see anything that would cause this, there is no news I can find. Dollar and rates are flat, SM futures are down a little.
I guess this occurred in Shanghai? Regardless, it’s a big turn for an otherwise sleepy evening, especially for silver which is $2.50 off the lows.
It’s too early for heavy trading in the shares premarket, but looks like silver shares are modestly higher, 1-2%. Maybe they know this isn’t going to stick?
I think Warsh speaks in Jackson Hole mid-morning, but the text of his speech is usually released before the SM opens. Make no mistake, the scum will try to correct this as the Crimex opens and we’ll see what kind of damage the LBMA inflicts.