Euro Breaks 1.30, Silver Breaks $30, Gold Down on Greek/ FrenchElections

The Euro/USD gapped down on Monday’s open, and has now broken 1.30 to the downside, with a last of 1.2956.
Gold and silver also gapped down on Monday’s Globex session open, with silver briefly penetrating $30 again before popping back above the critical support, and gold dropping $5 to $1637.
Gold and silver’s plunge is merely a knee jerk reaction to the plunge in the Euro, as rational traders (rather than HFT algos that merely react to forex moves) understand the implications of today’s Greek and French elections will have on Europe’s fiscal landscape going forward.