The last few days have been 'different'. Equities have relinquished their role as QE-sensitizers as Treasuries and precious metals have taken the reins. Perhaps though, as CNBC's Rick Santelli noted earlier, Gold and Silver are acting as barometers of anxiety - as opposed to clarifying QE expectations - as we see both Gold (> $1650) and Silver (> $30) break above their 200DMA and trade back to near five-month highs.
Silver has surged an impressive 9.4% in the last four days - its largest such jump in 10 months - and broken above its 200DMA...
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Gold has soared back above $1650 ($1672 at last look), broken above its 200DMA, and the jump in the last 3 days is most in two months...
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Charts: Bloomberg