From shrinking physical inventories to record central bank buying, precious metals warn that the underlying issues aren’t resolved…

That valve has blown off. So what do we do now... take profit?

As gold continues to benefit from central bank buying and investor diversification, silver bulls may be left questioning price levels as the hype surrounding it dies down...

As long as silver remains dislocated in the US and liquidity in London is not restored with silver from elsewhere, prices could rise even further...

Mexico leads global silver production despite holding just 6% of the world’s known reserves...

Peru alone holds roughly 22% of the world’s known silver reserves...

"Policy does not override physics..."

Tether moved to establish a new unit of account for gold, arguing that transactions denominated in "Scudo" could simplify digital payments.

...as falling interest rates, central bank buying, and persistent geopolitical risk continue to drive demand for the traditional safe-haven asset.

Under the plan, the U.S. Department of Defense will hold a 40% stake in the JPM-Financed smelter joint-venture...

In short, and as history confirms, there is no avoiding the gravity of debt nor the ripple effects of its appalling misuse...

... global conditions have fundamentally - and perhaps irreversibly - shifted.

...based on a review of “market volatility to ensure adequate collateral coverage,”

The year was 1965, the great turning point. The last 90 percent silver circulating coins (dimes, quarters, half-dollars) were dated 1964, and everyday “silver coinage” ended with that date for most denominations...

...the current fundamental backdrop... believe to be a structural change in the outlook for precious metals in the context of de-dollarisation and elevated uncertainty.

“The speculative atmosphere is very strong..."

"Currencies are pouring into real money in anticipation of the existing fiat currencies dying..."

"They are gobbling up all the supply available because they understand this is the end of the fiat currency experiment that started August 15 of 1971.  Fiats are collapsing..."

The gold price is racing from one all-time high to the next. That’s good news for friends of the precious metal and bad news for anyone still hoping for a stabilization of global debt dynamics. 

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