Gold and silver both popped early, with gold surmounting 1300 and silver banging hard at 18. Stocks were lower.
But then the trading opened in NY, and the algos got busy with a trading reversal that saw the precious metals going lower and stocks catching a bid.
This looked and smelled very much like a short term ‘technical trade.’
Let’s see what happens tomorrow and the next day.
There will be a Non-Farm Payrolls Report on Friday for the month of April.