DBS News and Press, Invesco DB Silver Fund From 09/21/22

Summary Through the month of September, we've been on "Crash Watch" over concerns that a global equity market drop could lead to a liquidity-driven margin call across all asset classes. The watch continues through this week's FOMC meeting and then into October. The major drive...

Summary Over the last month, gold has seen Registered fall by 10.2%, or 1.4M ounces. Silver has seen massive outflows MoM with 3 vaults seeing almost 10% or more reduction. There are now 3.4 paper contracts for each ounce of Registered gold within the Comex vaults. ...

Summary The "smart money" commercial traders increased their long positions as silver prices hit new lows for the year to start the month. Silver's recent outperformance is good news for precious metals bulls. If silver prices can continue to rally and break above the $20 leve...

Summary Growing short interest in SLV reflects a retail and institutional demand to bet on lower silver prices in the months ahead, and it is almost always a good contrarian indicator. At some point, Large Speculators will be forced to buy back and cover short positions. Silve...

Summary Gold has rarely seen more shorts than longs over the past decade and is the only precious metal currently positioned net long (+22.29%). With a net 9.24% of open interest positioned short, that is the most pessimistic positioning reading since May 2019. As speculators ...

Summary The Treasury added $341B of debt in August. This was the largest increase in debt since January and is more than 10 times larger than the increase in July. Another major occurrence was the increase in short-term debt. The Treasury increased Bills by $210B, the largest incr...

Summary Silver tends to rise faster in bull markets and fall more quickly in bear markets. The US dollar is extremely overbought and overdue for a significant downward correction, while silver is underpriced and oversold. The Fed policy responsible for both the strong dollar a...

Summary The prices of both gold and silver struggle as the Fed looks hawkish. The prices of the grey metal depend on the health of the global economy since silver is both a hedge against inflation and an industrial metal. It is likely the prices of silver will be under pressur...

Summary Over the past half century, gold and silver prices have shown a strong positive correlation. While gold and silver have a strong positive correlation, the ratio of the prices has ranged widely – from one ounce of gold buying as few as 30 ounces of silver in 2011 to ...

Summary As highlighted last month, short positioning in gold was at the highest level since April 2019. Total net positioning represents the combined exposure of the groups once hedging positions are removed. Managed Money has absolutely hammered silver lower while Swap has be...