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Day 5 Of The China-Open-Precious-Metals-Smackdown

Tyler Durden's picture
Submitted by Tyler Durden on 06/27/2013 19:56 -0500



 

Deja Deja Deja Deja Deja Vu... Gold (and silver) are legging lower once again as China's markets open. Spot gold just hit $1180 (down 2.5% from post-US-close highs). Given the state of the short-term funding markets in China, it seems possible that banks are liquidating any- and every-thing to realize cash (copper is also suffering modestly here at the open).

 

 

In other news... Japanese stocks are up modestly - of course they are:

Japanese unemployment printed worse than expected

CPI is still in deflation mode

Industrial Production YoY is still dropping

Household Spending growth missed expectations by its most in almost 7 years...

 

 

Charts: Bloomberg

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