Despite the recent volatility, big buyers of silver are getting closer to panic as supply remains extremely tight.
The Coming Silver Panic
July 15 (King World News) – James Turk: The RSI is not foolproof but is often a reliable indicator. It’s showing that despite silver’s big advance, it’s not overbought. So far, it’s a short squeeze. Long specs only now joining the rally. Big buyers of physical yet to panic. Own physical silver and gold. Avoid paper.
KING WORLD NEWS NOTE: Compare Both Highlighted Red Circles Which Show Silver Is Not Yet Overbought
Michael Oliver Just Predicted Silver Will Hit $160-$240
Also Listen To His Predictions For Gold & Mining Stocks!
To listen to Michael Oliver’s jaw-dropping predictions for the price of silver, gold, and the mining stocks in one of his greatest interviews ever CLICK HERE OR ON THE IMAGE BELOW.
Interest Rates Continue To Rise
Peter Boockvar: With a continued focus on long term interest rates globally, they jumped again in Japan with their 40 yr yield higher by 8 bps to 3.44%, the highest since late May. The 30 yr yield, up by 11 bps to 3.17% is just one bp from matching the highest level since 1999 when this maturity was first issued.
KING WORLD NEWS NOTE: 30 Year Yields Rising In Japan
Go back to 2008 was the last time the 10 yr JGB yield was this high at 1.58%, up 6 bps overnight.
KING WORLD NEWS NOTE: 10 Year Yields Also Rising In Japan
In 6 days in Japan they have an upper house election and that is creating the angst today as fiscal issues are front and center.
Fiscal disorder is the focus of bond duration buyers and they want no part of it. The US 30 yr yield is at 4.96-.97% and we of course watch that 5% level again. European yields though are little changed today.
Oil Prices Are Cheap
I’ll argue again that oil prices are cheap and going higher. … It’s becoming clear that the market is tight even with continued OPEC quota increases or at least it seems that all the quota changes were just going back to where oil production already stands. Also, the US oil rig count fell for an 11th straight week, down by 1 rig and by 51 in this time frame to 424, the least since September 2021.
KING WORLD NEWS NOTE: Oil Rig Count Falls For 11th Straight Week
Michael Oliver Just Predicted Silver Will Hit $160-$240
To listen to Michael Oliver’s jaw-dropping predictions for the price of silver, gold, and the mining stocks in one of his greatest interviews ever CLICK HERE OR ON THE IMAGE BELOW.
JUST RELEASED!
To listen to Alasdair Macleod discuss the massive upside breakout in the silver market and much more CLICK HERE OR ON THE IMAGE BELOW.
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