The Incredible POSX

In what has been a remarkable seven weeks, the POSX is higher again today, reaching as high as 108 before falling back. That makes it up about 8% in 8 weeks. That the Comex precious metals have mostly held firm against this onslaught is almost equally remarkable.

Here's your overnight chart of the POSX. Note the headline-driven spike at 3:00 am CT or 9:00 am London. At that point, the index was up over a full point and near 108. Wow....