As we kickoff the last few trading days of 2020, the next leg of the silver bull is just getting started. Expect a boom in silver demand in 2021.
December 28 (King World News) – Peter Boockvar: According to the Citi Panic/Euphoria index, sentiment cooled a bit week-over-week with it falling from the record high of 1.65 to 1.44. Again, anything above .40 is considered in euphoria land.
We know that a variety of metrics have indicated an ebullient mood and inherent in that is the reflection of a lot of good news being discounted, the vaccine being the most important and now another almost $1 Trillion of government spending. After a stunning market rally in November, this ebullience has resulted in a needed consolidation so far this month. Three weeks ago the SPX closed at 3691 and Thursday it closed at 3703. Digestion.
With the spending bill now law, I think we’re going to take another try at that 1% level in the 10 year with us up 3 basis points today to .96%. (See chart below).
The 30 yr is back to 1.70% and I think headed to 2% in early 2021. Keep an eye on inflation breakeven’s today where we will likely make a run at 2.0% ten years out from 1.97% Thursday. The 30 yr breakeven is exactly at 2% and the 5 yr is at 1.94%…
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SILVER: 4000 Year History Of Being Money
I know bitcoin is the ‘it’ thing right now but I encourage one to take a look at silver which combines the beauty of being a currency with 4000 years of history. (See chart below).
Expect A Boom In Silver Demand In 2021
At the same time, half of the demand is industrial which will benefit both from a recovering economy in 2021 and the demand for renewable energy, particularly in EV, where silver is a key raw material.
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