DBP News and Press, Invesco DB Precious Metals Fund From 05/11/22

Through rising real yields, a slowing economy and poor seasonality, short-term headwinds remain for gold and precious metals. However, this move higher in real yields is unlikely to last, and will soon turn from a headwind to tailwind for gold. In an environment of ongoing geopoli...

T-note futures took out lows going back to 2011 last night, extending the free fall that began just two months ago. It’s not just the price action of Treasury futures that has us spooked; it’s also what some key commodities are telling us. How long will it be before ...

There was a lot of volatility in stocks last week but in the end, the S&P 500 was down a mere 21 basis points. A rising currency is presumably negative for the export sector and positive for domestic purchasing power. On a sector basis, there were several winners last week wit...

If the basis is rising, it could mean people are buying futures more than physical metal. This would be when the price is rising. Or if the price is falling, it means people are selling metal more than futures. If the basis is falling, it means either people are buying metal or selling fu...

According to the BLS, the economy added 428k jobs in April. This exactly matched the March number after it was revised down by 3k. On a raw basis, this April was middle of the pack compared to the last 10 years. On an adjusted basis, this is the strongest April over the same time span...

The Russian invasion of Ukraine has not yet resulted in significant supply disruptions of platinum and palladium from Russia’s main producer, Norilsk Nickel. Russia supplies around 40% of the world’s palladium, 10% of its platinum and 7% of its rhodium (the three main pl...

Every asset class has been on a rollercoaster ride as investors are watching central bankers all around globe tighten monetary policy to fight inflation. The focus for the upcoming week will naturally be a slew of Fed speak and the latest US CPI data which is expected to show inflatio...

There are no good choices left for central banks in the US and Japan. They can’t both fight inflation and fund their government’s debts with low interest rates. The debt bubble has been long in the works, but there are no options left to deal with it in a painless way. I...

Gold would seem to be more abundant, first with a higher price. Now, the gold basis is showing that it still looks abundant, even at a lower price. The silver basis also rises around the same time. But it has fallen back to around the same level as before, under 1%. This may be a ...

During the last Fed rate raising cycle, it took the Federal Reserve five years to raise the fed funds rate to 2.50%. The Fed kept rates far too low for far too long and now we are dealing with the consequences. Both fiscal and monetary policy have been highly inflationary, and we are ...