GLDI - Precious Metals: Another Buying Opportunity Presents Itself

• The sharp drop in precious metals prices over the past week has provided us with another opportunity to scale in in anticipation of the longer-term bull market.
• While lower near-term prices look likely, the fundamental outlook continues to improve which should enable gold, silver, and platinum to post higher lows over the coming weeks and months.
• The slight uptick seen in real bond yields has been entirely due to falling inflation expectations, which appears to have been driven by the equity market drop.
• 10-year breakeven inflation expectations, at just 1.6%, remain far below the long-term inflation rate, and considerably below the 5+% annualized rate of inflation seen since May.

For further details see: