Claims didn’t fall, they went up some.
So dollar still weak/commodities and stocks still moving up, and bonds only a touch off their recent highs.
With the large output gap and unit labor costs well contained, it can be said it’s not so much the dollar is weak but the other currencies strong, particularly the euro, where it looks like they are trying to force deflation with their austerity measures during a time of high unemployment. And the yen, too, is still struggling with deflation.
If I recall 1980 correctly silver has been lagging and ‘caught up’ with gold just before it all came apart? Silver peaked at maybe $60 while gold peaked at maybe $880?
The Reagan expansion that followed the end of the oil shock was not a good time for gold and silver.
And today they are going up for the ‘wrong’ reason- market participants believe and are shifting portfolios as if the Fed and other central banks were ‘printing money’ when they are not. And this can persist for a considerable period of time.