Good Morning: Italy is Getting Smoked, And Gold And Silver Are On Fire


Risk off.

After a week of selling, the new week begins the same, especially in Italy, where the FTSE MIB index is off nearly 2%.

Elsewhere in Europe, Spain (remember them?) is off 0.5%, and Germany is off 1%.

The scene in the US similar. Futures are down, though so far indicating declines of less than 1%. The day is obviously quite young.

What’s hot?

Gold, which is up to $1599, and silver which is to $49.96. Nice round numbers coming for both.

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