Some interesting moves as we start to see risk appetite recover on the day but in tandem, precious metals are also catching a decent bid. Gold has moved up by 1% to be back above $1,800 while silver is up 3% in a push to $23.70 on the day.
The jump higher in gold comes amid a bounce off its 200-day moving average at around $1,785 earlier with the BOJ policy tweak also perhaps sparking some light bids on safety flows. But as we see stocks recover some decent ground, precious metals are instead picking up an even stronger bid.
The high for gold last week came in at $1,824.51 and will be a key level to watch for any potential further upside break.
