Loading ...the dollar has finally weighed in on the metals as it plunged petty quickly in about 10 minutes to the lows of the day, now down 1/2%. I think it’s down 2% since Monday.
Seems like a fairly big move for the world’s reserve currency. Not sure if one of the Fed heads came out and said something about a potential 50 basis point cut or if the dollar is finally ready to go into the fiat dustbin of history, but funny that it occurred after the Crimex close. Dollar now down nicely below the 200 dma, seems a bounce can’t be too far off – unless this is something else.
Tech and pm shares seem to like a weaker dollar. HUI up 1% despite GFI being a drag on the index. For some unknown reason it’s down 3% and was down almost 5%. That is a weird stock. It will be up 4% in the morning for no reason.
It can’t be long before the juniors start to get some action can it?