Why did metals and mining perform so well yesterday?Here is the likely reason:
“Much of the weakness in the U. Mich. measure of sentiment is directly linked to higher inflation, with consumers reporting that it is the worst time to buy durable goods since the late-1970s,” said Michael Pearce, senior U.S. economist at Capital Economics.
https://www.kitco.com/news/2022-05-13/Gold-prices-continues-to-struggle-near-1-800-as-UofM-consumer-sentiment-drops-to-59-1.html
That is, big money is suddenly looking beyond recession and into recovery.