The Grinch may get his wish once again as futures took a nosedive prior to the open. I don't think Mnuchin's meeting this morning is going to have the "calming" effect on the market he intended. When things get really bad, they have to lie.
Gold is still powering higher albeit slowly...climbing that wall of worry. Its once again above Palladium as well. I know the inventories are really light as can be seen in the current backwardation, but this spread is unsustainable. Especially with the lower auto production forecasted for the next few years. I'm bullish on the metals but I'm bearish on the Palladium vs. Gold spread.
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