Gold and silver prices are struggling now, but a much higher long-term base is building - BMO Capital Markets - Kitco
Gold and silver prices are struggling now, but a much higher long-term base is building - BMO Capital Markets - Kitco
Source: Kitco
―
DW NOTE
BMO calls gold's 21.6% drawdown from $5,318 a "long-term base-building" phase. That's not base-building — that's repricing an asset that rallied 85% on war premium and is now giving half of it back because the Fed raised rates and Hormuz might reopen. Silver down 46.3% tells you what happens when monetary conditions tighten and the speculative bid evaporates.