Dollar weakness continues (after weak US Services PMI) which has sent stocks to new record highs but it is the China-QE-driven commodity complex (along with Aussie and Canadian Dollar) that is in outright vertical panic mode...
[7]
And the move is on very heavy volume...
[8]
Gold is nearing $1200 once again, Silver now well above $16, Copper surgiung over $275, and WTI Crude testing $58 (2015 highs)
And commodity currencies likewise are soaring...
[9]
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When considering catalysts, perhaps it is worth noting the relative buying began in the Asia session as China QE hints were dropped... it appears people remember that the thing China buys a lot of after it generates inflation is gold and if indeed China QE is pushing stocks higher then gold (and other hard assets) is up next.
