Market Volatility Keeping Gold and Silver Quiet
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(Kitco News) -The VIX which is known as the fear index for equities is keeping a lid on gold and silver. Both metals made their highs on Wednesday at 7:15 in the morning and then spent the rest of the day giving away those gains. Silver appears to have found a bottom at 16.00 while gold continues to struggle, with 1225 failing once again to hold that level.
With all the talk of a strong economy copper is still weak but may have found some support at 2.47. Oil had a nice dead cat bounce on Wednesday and should top between 48-50. The Loonie looks to have found a bottom as well. In general, all markets are extremely quiet waiting for a reason to move.