We have been witnessing the abnormal situation in the intermarket correlations for quite some time now i.e. positive correlation between dollar and gold and silver (or virtually no correlation at all) and negative one between the general stock market and precious metals sector. Such a setup is not the best from the precious metals perspective as the overall medium-term outlook is bullish for stocks and bearish for the dollar. But last week seems to have brought some important changes to the structure of correlations. Before we analyze them let’s see what happened in the currency market last week – ...