July 19, 2021

Metals, equities, and bond yields are all falling in unison due to reemerging COVID concerns as the Delta variant continues to spread at an increasing pace.  Gold is only down about 0.3%, likely getting a boost from the 10-yield, which dipped below 1.2% for the first time in 5 months. Silver, however, is down over 2.5% today, currently trading at $25.10, its lowest level since April. The Dow is down nearly 900 points, on pace for its worst day of 2021 while the S&P 500 and Nasdaq are down 1.95% and 1.35%, respectively.