A day of recovery was apparently in the making in the precious metals markets this morning as the complex opened solidly in the "green" against a pullback in the US dollar and amid rising optimism that Europe and its currency would live to see another day.
After the worst three-day rout since the scary days of 2008 and the worst four-day slide since 1983, one would expect as much from the commodities' space. The questions that remain relate to how durable today's optimism (and buying) will prove to be. The appetite for risk was back on the investment menu and it was being reflected in 3% gains in copper and equal-sized advances in crude oil, for starters. [...]