The great move in Ag is that $1.50 is a bigger percentage move than a $50+ on Au.Au up $50+
Ag up almost $1.50

The great move in Ag is that $1.50 is a bigger percentage move than a $50+ on Au.Au up $50+
Ag up almost $1.50
They have to. If they allow the markets to correctly predict a pivot, it will cause what they are trying to do, to fail.I think the Fed holds out on the pivot longer than most folk think.
... Swiss Bank UBS ...
The bank's precious metals expert Joni Teves, released her 2023 gold price outlook, saying that she sees the precious metal pushing to $1,900 an ounce by the end of next year.
...
The biggest factor Teves said she sees driving gold prices up by double digits next year is a shift in U.S. monetary policy.
Not only does UBS expect the Fed to end its aggressive tightening cycle in 2023, but it is looking for the central bank to cut rates by 175 basis points by the end of the year.
...
A potential peak in the U.S. dollar because of shifting interest rate expectations is creating broad-based positive sentiment for gold in the marketplace, according to the latest Kitco News Weekly Gold Survey.
...
This week, a total of 19 market professionals took part in Kitco News' Wall Street survey. Twelve analysts, or 63%, said they were bullish on gold next week. Two analysts, or 11%, said they were bearish. Five analysts, or 26%, said they were neutral on the precious metal.
On the retail side, 905 respondents took part in online polls. A total of 588 voters, or 65%, called for gold to rise. Another 199, or 22%, predicted gold would fall, while the remaining 118 voters, or 13%, called for a sideways market.
...
Main Street is not only significantly bullish on gold, with sentiment at its highest level since June, but interest in the precious metal appears to be rising, as participation in this week's survey rose to its highest level since late September.
...
IMO, Best keep any eye on silver spot price especially now. On Nov. 3,2022 Silver spot was $19.47. The next day the price jumped over $1.00usd to $20.87 T.oz and has not looked back at $19.00 since.FWIW:
![]()
Gold prices have room to run as sentiment turns solidly bullish after best week in two years
Bulls or Bears? Wall Street vs. Main Street puts together leading analysts and regular metals investors to find out where they think gold is headed next week. Picked up and quoted by other leading news organizations, this feature has become a cornerstone for the industry and an indicative benchmark.www.kitco.com
So when the Fed keeps the gas on (doesn't pivot like market expects), there will be headwinds.
I already have an eye on that house I’m gonna buy for 75 ounces.Ag in the Pre-Market was was down 7 cents. Now it's UP $21.99, may bust $22.00 before EOD.
...
As dismal as the price action is expected to be in the first half of the year, Bank of America expects a dramatic reversal of fortunes when the Federal Reserve stops raising interest rates. The bank sees gold prices averaging $2,000 an ounce in the third and fourth quarters of next year.
Looking to 2024, Bank of America sees gold prices remaining elevated with an average price of $2,086 an ounce.
...
"Once the Federal Reserve stops raising interest rates, there should be a good market for gold," he said.
...
Along with gold, Bank of America is also bullish on silver, with prices expected to push to $25 an ounce by the third quarter and remain elevated through 2024.
...
well we briefly hit $24 today so good progressThe monkeys have not been able to hammer Ag back into $19.00 or $20.00 spot for over a month now.
Now silver is liking the high $21 -22+ range.
Good chance we get to $25.00 Ag EARLY in 2023. IMO
YMMV