China Follows

After the beating that the Comex precious metals took on Tuesday, all eyes were on Shanghai overnight to see if their price would follow Comex lower. And it did. This reveals again that we can not yet say with any certainty which market is the price maker and which is the price taker.

In fact, they almost seem to work in tandem. Perhaps this was the primary topic for all of those bullion bankers when they visited Shanghai in March and April....How can we work together? As price in Shanghai rallied in May, the Comex price was forced higher. As price in NY/London falls in June,...

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Key Economic Events Week of 6/10

6/12 8:30 ET CPI and Core CPI
6/12 2:00 ET FOMC Fedlines
6/12 2:30 ET Jerry's presser
6/13 8:30 ET PPI and Core PPI
6/14 8:00 ET Some Random Goon
6/14 10:00 ET Prelim UMich

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