It's been a few days since the once ubiquitous morning take-down in precious metals showed its face but this morning with the USD leaking only modestly higher and Treasuries notably bid, gold and silver are gapping down in a hurry. Gold (-2%) is back to the May 2012 lows (within $10 of July 2011 (pre-QE2) levels and silver (-3%) is testing down to recent lows also. Other commodities (like Oil and Copper) are also in pain this morning...
[4]
Gold in EUR is its lowest since October 2011.
and Oil and copper are joining the party...
[5]
and this flight FROM safety as bonds are bid...
[6]
Charts: Bloomberg