Loading ...Silver breaking back above $30 here early up 1%, gold up 1/2% with the dollar a smidge higher. Dollar is up against the Euro and Sterling but down against the Yen. Somehow, I suspect what matters is the Yen. Oil is closing in on $76. Bitcoin down 1% after being up 10% last week. Rates are down 2 bips. SM is up a little.
Hopefully we pass $30 silver and never look back and gold heads straight to $3K by year end. That would get some folks to pay attention.
The more I think about it, the more Rafi’ Farber’s thesis makes sense. The SM continues higher, but at a subdued pace while pm’s launch and the value of the SM falls against gold. If we are at the beginning of new QE and a falling dollar, his thesis makes a ton of sense, and we may not see a big SM correction. Gold just gets more valuable than everything else, including the over-inflated SM.
PM shares are strong at this early hour, the scum owes us some nice gains, even if the dollar flatlines or goes up a little, after subduing the metals against the dollar last week. We might be seeing a little of that today.
Agree with Captain, the juniors might start getting a little attention. The worm may have turned on them last week. Still though, we need to see some volume.