Gold Is Surging

Gold appears to be the big winner this morning.

Bonds are getting smashed following a big upside surprise to consumer confidence earlier. Despite that, though, the stock market has mostly sold off since the release as well.

Gold, on the other hand, rose from a low of $1372.10 an ounce to as much as $1401 before backing off to current levels around $1392.60, now up 0.4% on the day.

Other commodities are finally catching a bid as well – especially metals. Silver is now flat at $22.50 after trading down to $22.11. Platinum is up 1.1%, and palladium is 3.1% higher today.

Meanwhile, WTI crude oil is up 1.5%. Agricultural commodities are mixed.

The chart below shows the move in gold this morning.

GoldClick to enlarge

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