DBP News and Press, Invesco DB Precious Metals Fund From 01/23/23

Summary Silver demand growth from solar installations is about to take off as module prices are forecast to fall and production to surge with massively increased polysilicon production. Lower intensity of silver usage in solar modules is forecast to decline at a slower pace, causing thi...

Summary Resource equities exhibited strong relative gains this quarter, outperforming both global equities and bonds during the three-month period. During the quarter, the greatest contributions to absolute performance came from the oil & gas sub-sector - including the top three ind...

Summary Gold now has 9 consecutive months of metal leaving the vaults on a net basis. Silver did complete the month of December with a slight net gain in both Registered and Eligible. Platinum saw a massive surge in inventory after the contracts standing for delivery exceeded total ...

Summary At -0.92, DXY has a near perfect inverse correlation to Gold. If the DXY falls, Gold rises, and vice-versa. The DXY has been languishing around 102 ever since its decline from the peak of ~115 on Sept 28. The next rate hike is likely to be 25bp and it may be the last or we g...

Summary The macro environment for silver is improving as inflation in the US is moderating and the Fed is expected to be less hawkish than in 2022. The silver market is expected to remain in deficit in 2023, with strong demand from the jewelry and industrial sectors. Speculative pos...

Summary COMEX gold is off to a fabulous start to 2023. COMEX silver is now flat and unchanged year-to-date. COMEX silver has yet to rally in 2023 because the hedge funds aren't buying it. For further details see: No Interest In COMEX Silver

Summary Elliott Wave analysis provides incomparable targeting for financial markets. Our Elliott Wave analysis caught the high in 2011, the low at the end of 2015, and is now looking for our next major rally. Our next major target is $2,428 in gold. I have now been writing...

Summary High interest rates are used to ignite the major rally in the gold market. Consumer spending is a key driver of economic growth, and a decline in consumer spending contributes to a recession. The US dollar is set to decline, due to economic instability in the United States o...

Summary Gold is on its third attempt at a major breakout. It's been clear over the last ~9 months that enemy #1 for GLD/gold has been the USD. What determines gold's value is monetary inflation, and gold is still ~15% below fair value today and will likely greatly exceed fair value....

Summary December was a mixed month for commodity index strategies overall. Natural gas was the strongest commodity for most index strategies. The precious metals sector was the strongest performing sector in December, rising over 5%. Natural Gas Contributes From Rebalance ...