The overnight data has silver above $67 and gold having touched $4400 earlier.
Some pretty good gains if we can hold them.
The only thing that I can see that is goosing everything – metals, SM, Bitcoin – is that oil is back under $100 slightly. Cause for celebration I guess.
The dollar is up slightly on Yen weakness, and rates are flat. Nothing there to support this move up.
So, these are some nice early gains if we can keep them, most of the shares on Globex are up 1 -2%, so it’s too early to tell.
If forced to bet, I’d guess most of this will be reversed. Hope not though.