Gold up $12, silver up 3%
The US dollar has turned lower following the GDP numbers and precious metals are one of the winners.
Silver is getting some love from the meme stock crowd, believing they can engineer a squeeze. On the chart, silver just ticked above the mid-January highs and above $26.
It could be a quick move to $28 and in this market momentum is everything.
To be clear, this isn't a precious metals-only move. All commodities just caught a bid and US equity futures are ticking a bit higher. The dollar is reversing some of the gains from yesterday and today.
