Silver Does a Moonshot Gold Follows On Heavy Volume

August 15, 2013 at 18:34

truthing

Silver popped higher and after getting beat down in the face of better-than-expected jobless claims data this morning, gold has recovered all of its losses and is surging.

The shiny yellow metal just blew through $1360 an ounce to the upside after trading as low as $1317 earlier. Now, it’s trading around $1363, up 2.2% on the day. Someone came into the market and placed a big trade.

There is some chatter about a broad US dollar sell-off if the Fed doesn’t taper, something that could stoke inflation as well.