Noticing a shift in the markets this morning from the stocks up/dollar up trade to a stocks and PM's up/dollar down.
The selloff in the precious metals lately has co-incided with the rally in the stock markets of the U.S.
The anxiety over Europe/Cyprus/Greece has caused weakness in the Euro and corresponding strength in the U.S. dollar.
It appears that the EU will resolve the latest tempest and will continue to resolve their issues. This should let the US$ resume it's slide. China will let it go.
I see the inflation trade resuming it's place in the debate.
And a resurgence of the precious metals.
The gold stocks look to be undergoing accumulation or at least short covering....
Keep the risk under control.