Precious Metals Continue to Roar!

The precious metals move to the upside has continued today with the sharp move higher for Silver which traded up over 7% on the day today, reaching a new all-time high price of $86.34 today and closing slightly below that level. Gold and Copper also traded higher with gold trading up over 2% and Copper trading higher by around 1.6%, and the momentum is still strong across the asset class.
There has been a lot of headlines and global uncertainty that could be playing a role in the dramatic moves to the upside, but any selling that has been seen over the last year has been met with buying on weakness helping drive the prices higher.
The equities also saw a positive day today with the S&P, Nasdaq and Russell all trading marginally higher led by the Russell. This has been a common theme over the past few months where the Russell either leads equities higher or leads the prices to the downside, and that trend continued today.
There is a lot of economic data being released this week, starting tomorrow looking at CPI, which can have a strong impact on the equities, precious metals, treasuries and the crypto futures that traders will be watching throughout the week. |