Gold and other commodities are surging today.
Gold in fact just hit its highest level since November of last year.
Two theories about why:
One is that Dovish Chicago Fed President Charlie Evans was on CNBC talking… dovish. He didn’t say anything out of character, so that’s kind of a weak explanation.
Another explanation comes from Dave Lutz of Stifel, who says…
“Talking to guys in Chat Rooms on this – Seems driven by a Reuters report that France, Germany and Poland determined to swiftly establish a banking union – EU fins ripping”
There you go.