When I did my post on Sunday afternoon, I noted how silver absolutely roared out of the gate but that gold looked “wobbly”, suggesting the precious metals rally continuation was pretty long in the tooth. Only minutes after doing that post, metals peaked and reversed, and as I’m typing this at 4:30 in the morning, they’re getting zapped hard. Silver is shown below, which has crumbled all night.
Palladium in particular is getting nuked. It spiked about 7% minutes after opening on Sunday (pushing its yearly gains into the triple digits) before surrendering every penny and going into a free-fall.
Equities are down about .3% to .5% on the big index futures, and it’s a nice reversal across the board. I think I’ll go get a few more minutes of sleep!
