Why do we watch the GSR? Take a look around today at the damage that tends to happen when it turns up. GLD-SLV surrogate is shown in the chart.Is today's move the start of something or just a shake out before the next hope leg higher? Don't know, don't care. Risk is way higher now with the GSR coming off 6 than it was at the panic highs near 9. It is no coincidence that the dollar is catching a parallel bid.
