There was quite a reversal late in the day as the precious metals, which had been under pressure, rallied dramatically into the close.
The reversal seemed to coincide with the breaking news that two whistleblowers have come forward from JP Morgan with allegations of market manipulation in the metals by the Bank.
Here is intraday commentary on this news item.
This uncertainty and mystery over the CFTC and their actions in overseeing the markets and investigating these serious allegations is approaching the absurd. It is time to clear the air.
Have a pleasant weekend.
