Key Takeaways
Risk On, Greenback Off: What we have on our hands today can best be described as a classic “everything rally.” Everything, that is, outside of the DXY dollar index, which has retreated by -25 pips to 97.9 after yet another failed test in a countertrend bounce to the 50- and 100-day trendlines. Gold prices have spiked an additional +1.3% to set new all-time highs of $3,809 per ounce (silver is up by +2.4% and now above $45 per ounce for the first time in fourteen years, and both platinum and palladium are also smartly higher by nearly +3.0% apiece).
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