The trade looks increasingly stretched and in need of consolidation - and the new year may bring exactly that... The technicals are already flashing it.

...only a matter of price before the CME and/or governmental action pulls the rug out from silver speculators.

...the paper markets in silver just had yet another near-death experience.

...exploding record high prices for gold, and especially silver, are signaling big trouble brewing for the financial system.

This betrays a shortage of physical silver more acute than for gold, which is likely behind its recent significant outperformance...

...issued warnings to investors about the risk of "significant losses" should the metal's record-breaking rally come to an end.

...in a scenario where there’s additional investor diversification because current gold positioning remains low.

As we approach the end of 2025, we are seeing, yet again, certain familiar and simple patterns which can serve as potential lighthouses for those endeavoring to navigate so much admitted fog. 

Surrounding the 2024 hawkish cut, Silver traded poorly; futures participants and ETF holders liquidated...

Events are moving quickly in the gold market...

Would that not be fascinating if we eventually end up with a gold standard as fact even without legislation?

“The market is waking up to structural scarcity and fast-rising industrial demand, not just the haven story.”

In 2025, we're witnessing both Central Banks + Western investors competing for the same bullion; we see these two sources of demand continuing + driving our 2026 forecast of $4,900

The 140% increase in the price of gold over the last three years is telling a story the legacy media propaganda outlets don’t want told...

The U.S. abandoned the gold standard in 1971, ending dollar convertibility to gold...

All of the world’s above and below-ground gold together would form a sphere around 107 feet tall...

Inflows into gold exchange-traded funds are rising again while those into Bitcoin ETFs continue to fall...

Tether accounted for almost 2% of global gold demand last quarter, with Jefferies noting that its aggressive buying may be influencing short-term market sentiment...

ETF flows suggest USD 3,900/oz floor will hold...

...stated simply, everything hinges upon one question: Is there enough cash to keep these systems afloat?