[…] Markets decided that the gloom and doom of Fed hawkish that drove markets lower on Friday was not all that serious after all, and rallied strongly today.
Option expiration over, markets rally.
What a surprise.
The Dollar and VIX dropped.
Gold and silver were higher.
The SP 400 led the tech heavy NDX higher.
There will be a Comex option expiration this week, more important for silver than gold.
It will be interesting to see how the impact of the Basel III rules regarding gold will impact its price and supply at the end of the month.