Silver On Sale - 4% Fall On Massive $2 Billion of Futures Selling
Silver fell a very sharp 85 cents from $18.40 per ounce to as low as $17.65 per ounce yesterday for a 4.25% price fall soon after the London bullion markets closed yesterday despite no market news or corresponding sharp moves in other markets.
The market was caught offguard by yesterday's dramatic raid of three Caterpillar offices, including its Peoria Headquarters, which reportedly included agents from the IRS, FDIC and Commerce Department, and sent the stock tumbling by the most in over half a year. The raid took place just one week after former CAT CEO Doug Oberhelman met with Donald Trump, which prompted the president to say that he "loves" Caterpillar.
World stocks pulled back from all time highs, and European bourses initially followed U.S. futures and Asian shares lower, however both European risk sentiment as well as E-Minis rebounded after an Odoxa poll showed Macron overtaking Le Pen in the 1st round for the first time, and that the addition of Juppe instead of Fillon may see a 2nd round run-off between Macron vs Juppe, leading to a slump in Bund futures to session lows, and a bounce in European stocks.
The Sales Managers Index (SMI) is one of the earliest monthly indicators of Indian economic activity. February's data shows the catastrophic after-effects of the December demonetization policy which was intended to crack down on corruption and 'black money'.
The February Headline SMI has fallen to an index level of 60.2 in unadjusted terms, the lowest level in over 3 years.
Source: WorldEconomics.com
Via Michael Shedlock of MishTalk.com,
Eurozone headline inflation hit two percent this week, and that has the inflation hawks in Germany screaming.
Yet, ECB president Mario Draghi has promised to maintain QE asset purchases, and Italy has no other real buyer for its bonds.
What’s Draghi to do?
Headline Inflation Hits Two Percent
A milestone.