The Forgotten Trades Strike Back

The forgotten trades are starting to wake up. Oil is squeezing, gold and silver are testing major technical levels, and Treasury yields are flirting with a breakout.

Everyone Gave Up On Silver

The options market has completely flipped on silver. Investors have gone from chasing the upside to paying up for downside protection.

The Gold Squeeze Nobody Sees Coming

Everyone seems worried about what could send gold lower. Few appear positioned for what happens if it breaks higher. The combination of tightening technicals, resilient physical demand, and subdued positioning creates the ingredients for a potentially violent squeeze.

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Oil rises again while Tech outperforms ahead of GOOGL earnings - Newsquawk US Market Wrap

Trump said no interest in meeting Iran, will hit Pickaxe Mountain soon and very heavily; Houthis have reportedly warned shipping firms to avoid loading or discharging at Saudi ports; 6 Saudi ships reportedly forced to return from Bab al-Mandab; TSMC to raise chipmaking prices by up to 10%; US to impose additional 50% tariff on certain products of Canada including some USMCA products; NZ Q2 inflation comes in slightly hot; UK employment growth beats, u/e rate unchanged; NVDA said new Vera processor is faster than AMD's Turin.