Despite the surge in prices for NatGas (and record time-of-year prices for gasoline), WTI crude oil prices are stumbling back to $93.50 this morning. Copper is also sliding but the real action – once again – is in Gold and Silver. Following yesterday’s flash crash in gold, silver is having a conniption this morning as the 8amET period once again brings volatility. The selling coincided with the smaller-than-expected trade deficit – perhaps indicating indirectly less room for Fed QE? But in this new normal market, do they really need a reason to smack them down. Stocks are not moving as this occurs but bonds and the USD are modestly bid.
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/Vw07w3QTuMY/story01.htm Tyler Durden