After falling through the Fedlines and Jerry's presser, PM prices fell further at the Shanghai open last evening with Jul24 silver briefly trading below its 50-day moving average. Prices have since recovered some of those losses but even weak economic data can't seem to reverse things back to green today.
Let's start with today's data. The Producer Price Index came in way below expectations...not just one tick but way below was was expected. At the same time, weekly jobless claims surged to the highest level in months. Do you recall how for 12 weeks this number was stuck at 212,...
