DBP News and Press, Invesco DB Precious Metals Fund From 06/25/22

The talk is about how the Fed is going to control the record level of inflation, which is at a 40-year high, by increasing interest rates. Fundamentals always lag the market, so the market has already factored in more inflation and higher interest rates. The fundamentals appear to...

Historically, the dollar is the antithesis of gold because gold is the anti-dollar. Higher bond yields have been extremely supportive of the dollar, especially relative to the yields in other currencies. While the inverse correlation between Gold and nominal yields is strong, the ...

Rising real yields will push both gold and oil down which trumps supply and demand for oil. Fed balance sheet reduction will continue to drive real yields higher. The same balance sheet reduction and Fed inflation focus will cool inflation. Oil faces a further recession and de...

When the "Speculators" get overly excited, bullish, and long, a price top usually follows as buying momentum for COMEX contracts is nearly exhausted. While it certainly does not appear that there are any fed funds rate cuts planned for the near future, it's helpful to know that the CO...

The yellow metal has managed to stay positive since the start of the year, skirting pressure from surging yields and a strong U.S. dollar. The value of the dollar is now highly elevated on the back of interest rate hikes, and yet the yellow metal has continued to trade above $1,800 an...

The Federal Reserve panicked last week and spooked investors into the worst week for stocks since the onset of COVID in March 2020. For bonds to rally, we need rates to fall and that will only come with better inflation news and/or weaker economic data. It is a very uncertain time...

The Fed raised rates by 0.75% yesterday to 1.50% and plans to continue raising rates to at least 2.5% in the next few months. Quantitative Tightening, or QT, is continuing at its announced pace also. While the Fed’s move was hawkish to say the least, this was all expected, ...

When fundamentals and technicals align, that tends to be a sweet spot for investing. In a declining margin environment, gold is likely to continue to hold up well vs broad equities, although we should expect some counter-rallies. As the economy continues to weaken, diversified hea...

After restocking inventories for two months in March and April, Comex vaults have seen more than a third of the restocking removed in May and June. Silver saw a big move into Eligible last month (8.7M ounces). Part of it was sourced from Registered, which lost 6M. With the Fed on ...

The 10-Year Note has been volatile recently as a consequence of the Fed's announcement to raise rates .75 percent. It is the biggest increase in 28 years. The Fed has been behind the curve since 2021. Now, interest rates have sharply reversed, contrary to the Fed’s expe...