The metals were hit today along with stocks. Stocks were hit because of the lousy economic indications from companies, and the sour words from the Philly Fed's Charley Plosser (see the post below this).
Gold and silver were hit pretty much on a matter of principle I think. The principle is that this is the end of quarter, and so we will see selling today and maybe a little tomorrow as the funds hit they bow-wows and raise some cash for the end of week ramp-o-rama.
The metals may not participate since the Big Shorts need some help on their mark to market losses. And their guiding principle is 'do what thou wilt' with Other People's Money.
Let's see how this plays out.
