Precious metals are getting killed on this Tuesday, May 15. All of the other major asset classes are down also, as of this writing.
It seems that a sell-off in bonds, raising the yield on the 10 Year Treasury above 3%, is the catalyst for today’s action. What is interesting to me is that when bonds sell off, I would expect gold and silver to be steady or up, but that is not the case. The last time I looked, gold was down $20/oz. and had broken below $1,300/oz. for the first time in ages.
US large cap stocks and international stocks are already in an intermediate negative trend, as are US Treasuries. US small cap stocks and gold are still positive based on the linear regression of prices the last six months or so.
Time to stay alert. Have a good day!