Could be that bonds and G & SĀ are rallying because they think a war is on the way. Could also be related to the Repo activity we’re seeing the Fed do which nobody seems to know the reason for.
One thing we know is that G & S never seem to rally for long based on a war, but the SM always loves it.
The other thing is that I don’t remember silver leading the way when a war is about to start. Not sure what the heck is going on there, but I like the 2% rule being broken. Plus, I’ve noticed that palladium is back to outpacing gold in terms of price.