Silver up $.76

[Dozer D]

Does anyone have any idea of why silver jumped $.76 on Friday, Oct 2? Have not seen any PM indicators for the jump. I think this was the biggest one day increase in a long time. Comments please.

 

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[enamel7]

Same reason gold was up $24.90. The jobs numbers weren't great and they're still worried about China's economy. People think pm's are gonna go low. I got news for you. Silver will never be at $7 again and gold will not see $800.

 

[CognitiveDissident]

Well maybe.

The money came out of stocks. Look at the djia open on friday, massive crash. Simultaneously bond yields crashed as well. Stocks down, yields down, commodity futures up. This is classic fear trade. It wasn't traders sensing opportunities in bonds and commodities, it was trades fear of equities that drove this outcome.

So why might trades have been afraid of equities on friday morning? This Aug factory orders fall 1.7% and this U.S. economy creates just 142,000 new jobs in September - MarketWatch These numbers, considered in the wider context of their trends, scream recession.