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>
The “safe” haven of precious metals is once again well bid this morning as Draghi’s disappointment sent the EUR higher (and USD lower). Gold and silver have now recovered all the losses from the flight-to-high-beta-equity that followed Putin’s press conference on Tuesday. So since he spoke, oil prices have collapsed (hurts Russia) but US stocks have surged (as bonds dumped). Must maintain the illusion of control (but it appears the PMs are leaking that status quo trust away).
