Gold, Copper, Oil, China, Hong Kong, Silver, Australia All Whacked — US Futures Lower

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The big story today is a continuation of Friday’s big story: A decline in things Asia-related, commodities-related, and precious metals related.

Chinese and Hong Kong stock markets both fell over 1%, after a slew of Chinese data (including GDP) came in weak.

That slammed the Aussie dollar, which is sensitive to Chinese data.

That also caused more weakness in the big industrial commodities, like copper and oil, the latter of which is now below $90/barrel.

And the other big story is the precious metals meltdown.

Gold touched $1420 overnight, before barely rebounding. Silver is also very weak.

While Europe is slightly in the green, us futures are lower.

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