Commodities: Silver
US indices edged higher overnight, but following this month’s strong advance, they do feel tired and in need of a few days’ rest before another leg higher into Christmas is likely. However, the current trend is up and this is not the seasonal time to be fighting bullish moves. The ongoing strength by the Dow & Co. is being fuelled by optimism that the Fed has finished raising rates.
The US banking crisis continues to slowly improve but that is leading to a bounce in bond yields which is weighing on growth stocks e.g. the US 2 years have rallied from 3.55% to 4.07% in just 3 days.
Like to know silver mining companies in Australia and Australian ETF for gold and silver miners.
Both silver and gold have enjoyed a strong start to 2023 as the $US tumbled after years of appreciation, our view is we’re witnessing just the beginning of a significant advance by precious metals with the risk/reward attractive into any dips back towards $US22 for silver.
Precious metals were strong on Friday night with volatile member silver rallying over +7% in a session that looks poised to change the downtrend of 2022, it’s not out of the woods yet but it’s close!
