In this video, Ira Epstein discusses the recent surge in metal markets, highlighting silver's near all-time high at almost $67 and gold's performance relative to silver.

It is a very busy day for central bank policy meetings in Europe. There are probably some downside risks to the euro and sterling from these event risks, but stretched short positioning may prevent a larger sterling sell-off.

The USD/CAD pair trades marginally lower around 1.3770 during the European trading session on Thursday.