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JJPFF - Why Is The Gold Rally Leaving Silver Behind?
iPath Bloomberg Precious Metals Subindex Total Return SM Index ETN
2024-04-18 08:00:00 ET
Summary
Gold has rallied despite Fed Funds futures depricing many of the cuts that traders had previously expected for 2024.
It appears that one or more large investors have taken a long position in out-of-the-money call options on gold.
The fact that the rally has not fully translated to silver may be an indication that either the gold rally is overextended or that silver has substantial catching up to do on the upside.