Loading ...Good to hear.
But it looks like the storm in debt won’t be so easy to get over if the breakout in credit spreads over the past few days is any indication.
ICE BofA US High Yield Index Option-Adjusted Spread (BAMLH0A0HYM2) | FRED | St. Louis Fed (stlouisfed.org) This is the correct link
This has been a key missing ingredient in keeping investors out of PMs since trouble started brewing for some time now.
Open interest on both gold and silver futures is holding steady despite falling prices, which is a negative, so PM prices may not respond positively right away, but it’s coming once the stars become aligned – again with a huge missing support pillar for the sector – credit spreads – starting to show concern.
Metals Daily Exchange Volume & Open Interest – CME Group
And it’s unlikely they will be able to smash them back down like they do with other indicators they don’t like.
Not this time of year and not under present conditions.
Cheers