Loading ...Kind of an odd day isn’t it?
The dollar won’t die and bonds continue to be sold, so rates don’t die. The flip side is that the metals won’t die either. Other than the one bad day for silver this week, everything except the pm shares is sort of flat. Even some of the shares won’t die much, EXK and AG come to mind. The money masters have used NEM earnings to take some air out of the large caps, but not a lot really, just slowed the momentum. I imagine there’ll be some blockbuster earnings from some of the large caps like AEM, even KGC and some others that will rev things back up.
This just feels like a pause before we resume the march higher, maybe even next week. We know if they could take the metals down, they’d be doing it.
Oil is up 2% today. Who wants to go into the weekend short gold and oil? Doesn’t seem like much of anyone.