Major US indices now trading all in positive territory. Silver getting hammered.

June 07, 2024 at 03:54PM
Major US stock indices have now erased all the declines. The gains are led by the Dow Industrial Average retreated up 0.56%. The NASDAQ index is now up 0.14%:

Dow Industrial Average average up 213 points or 0.56% at 39096

S&P index up 16.10 points or 0.30% at 5369.50

NASDAQ index of 23.76 points or 0.14% at 17197

US yields remain higher with the 2-year up 13.7 basis points at 4.857%. The 10 year yield is up 14.5 basis points at 4.425%.

In other markets, crude is little changed. Gold and silver are reacting negatively to the rise in yields and rise in the USD.

Crude oil is up $0.14 at $75.69.

Gold is down $-61 or -2.56% at $2314.90

Silver is down $-1.61 or – 5.18%. That’s the largest one-day decline since October 2023 when the price fell my 5.19%. You would have to go back to February 2021 if the price moves lower

The USD is the runaway strongest with gains of 1.29% vs the NZD and 1.08% vs the AUD as commodity prices sink.

This article was written by Greg Michalowski at www.forexlive.com.

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