Historic Events To Create Massive Dislocations In Gold & Silver Markets

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from Bill Fleckenstein, via King World News:

Away from stocks, green paper was mixed, but there were decent-sized moves, i.e., the yen was strong and the Canadian dollar was weak. The freefall in the Canadian dollar is just amazing, though perhaps less so when you look at what has happened to other currencies, the oil market, and so on, as I have noted many times.

Oil Soars 8 Percent!

Speaking of oil, it gained 8%(!), while the bond market here was quite strong as stock weakness and the “relative value” of Treasuries versus the rest of the world’s confetti IOUs has the wind at the back of U.S. bonds, even as their yields are absurd.

Gold And Silver Markets Trading Differently

As for the metals, they were higher, with gold gaining 2% to silver’s 1.5%. I would note that even despite (Thursday’s) pummeling, the miners and the metals complex in general continue to appear to trade differently of late compared to the last couple of years. In addition, the GLD ETF continues to see inflows. Exactly when all of the world’s events are going to conspire to really put a bid into gold and drive it over $1,300, and higher — at which point buyers will be everywhere — I can’t say, but it does seem as though something has changed and perhaps we really are in a bull market.

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