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Chart below shows highlights with green circles of low net long positioning. Silver futures contract (upper chart) is in a very defined upward channel.
Target would be in the low 40's.
Seeing a lot of frustration, profit taking, and top calling on social media.
more“In the near term, risks to inflation are tilted to the upside, and risks to employment to the downside—a challenging situation. When our goals are in tension like this, our framework calls for us to balance both sides of our dual mandate.
Our policy rate is now 100 basis points closer to neutral than it was a year ago, and the stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance.
Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.“
Gold and silver doing something...
... most missed the significance of this. ...
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In a letter sent on Wednesday to the Canadian Minister of Energy and Natural Resources, Jonathan Wilkinson, the CEOs of 19 miners, including top producers Coeur Mining, Hecla Mining, and First Majestic Silver, say that considering silver a critical mineral would position the country to be a supplier of choice for strategic allies.
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