Gold is at a point where most of the horrific Corona crisis news is priced in, the US economy continues to strengthen, and not enough government handout money has been spent by Main Street to create inflation.
Markets are watching a series of things this week. Chinese trade delegation. The pumping of money into the economy by Executive Orders and the Republican/Democrat talks underway.
Bank of America’s global commodity research team said it is “feasible” for silver to hit $35 per ounce in 2021. Bloomberg notes that the analyst said silver benefits from low interest rates and demand for green technologies.
My incipient bullishness on the dollar was inspired by some subtle vibes from the financial penumbra, including word that Morgan Stanley had exited a short position in the dollar after concluding it was at its most oversold in 40 years.
