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...
Gold in EUR is its lowest since October 2011.
and Oil and copper are joining the party...
and this flight FROM safety as bonds are bid...
Charts: Bloomberg



