It's May Day. Socialist Workers around the world rejoice and take the day off. In fact, the Chicoms are taking five full days off and this has once again inspired your friendly bullion bankers to seize the day and smash the PMs.
It's not like this every year but, in a year where Chinese demand is clearly helping to drive price every day during Shanghai market hours, I probably should have anticipated all of this a little better.
For example, do you recall the initial smash of Tuesday at 4:00 am ET? There was no news or headlines to prompt it. I even asked X for an...