After silver crashed from 50 to 35 Dollars an ounce in just 4 days and crude oil dropped $10 per barrel and copper dropped below $4 today, many people again call the prior run-up a bubble and this the crash.
Although its certainly possible that we'll witness a pause for the price increases, like I mentioned a few days ago, I don't believe its anywhere close to being over.
The Dollar rallied strongly today and the Dollar Index gained almost 2%. Yet, was it the Dollar rising, or the Euro dropping ?
The European Central Bank met today and decided not to raise rates and left the impression that another hike will not happen soon. That tanked the Euro as it became clear that they're not much into inflation fighting either.
No comments:
Post a Comment