Precious Metals Lurch Lower

Monday, stocks fell 0.7% in Asia, 3.1% in Europe, and 2.1% in the U.S. on very high volume. The 10-Year U.S. Treasury bond yield fell 5% to close at 0.68. Precious metals and miners plummeted about 4%. The S&P 500 index closed below their 3300. Apple rebounded to close above its 110 benchmark.

Tuesday, stocks fell 0.6% in Asia, rose 0.2% in Europe, and gained 0.3% in the U.S. on strong volume. Precious metals fell 1% while the S&P 500 index closed back above its 3300 benchmark.

Wednesday, stocks fell 0.2% in Asia, rose 0.6% in Europe, and fell 1.9% in the U.S. on very high volume. The VXO moved up 11% to close at 30.58. The 10-Year U.S. Treasury bond yield rose 2% to close at 0.68. Precious metals and miners lost another 5%. The Dow Jones Industrial Average and the S&P 500 index closed below 27,000 and 3,300 levels respectively. Apple closed below 110. IBM closed below the 110 benchmark.

Thursday, stocks fell 1.9% in Asia and 1.0% in Europe but closed unchanged in the U.S. on very high volume. Precious metals gained 1% while their miners moved up three times that amount.

Friday, stocks gained 0.5% in Asia, fell slightly in Europe, and moved up 1.0% in the U.S. on very high volume. The VXO rose 9% to close at 28.22. The Dow Jones Industrial Average closed above its 27,000 benchmark. Apple ended the day above its 110 level.

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