In this environment of excessive debt accumulation and runaway inflation there is only one way to protect one’s wealth and that is by owning gold and silver or quality junior precious metals stocks.
So what happened last Thursday? Why did bond yields suddenly plunge while COMEX gold prices soared? The picture is coming into focus, and 2022 will be nothing like 2021.
To describe the fundamentals of the gold and silver markets, or even predict its price moves, a coherent theory must look at the gold and silver basis.
The global economy is so screwed up right now that even a team of MIT eggheads using a supercomputer and petabytes of economic data couldn't predict where interest rates will be in 30 days, let alone two years out.
Total gold open interest at the close Friday exploded by 32,751 COMEX contracts, a very depressing number -- and I'm hoping/praying that it's spread related.
