Silver lining: a case for a precious metals retracement - continuumeconomics.com
Silver lining: a case for a precious metals retracement - continuumeconomics.com
Source: continuumeconomics.com
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DW NOTE
Continuum expects precious metals to fall further. They may be right about the short term — gold is down 22% from January, silver down 48% from its peak, both tracking the WTI retreat despite the Strait still being closed. But the case for retracement assumes normalisation. The Hormuz blockade is nine months old, the Fed is holding at 3.5%, and the US is running toward a $2 trillion deficit. Nothing about that setup says mean reversion.