When we look at the precious metals complex the only thing we see moving higher is not a specific precious metal, rather it is a ratio between two precious metals.

Yesterday U.S. equities had their deepest and most brutal decline since black Monday which occurred on October 19, 1987. At the same time gold opened higher in Australia, and then began to selloff as it traded in New York.

Today the financial markets with the exception of bonds plunged. The Dow Jones industrial average lost almost 3000 points in trading. Analysts are citing the global COVID–19 (coronavirus) as the primary trigger for this selloff.