DBS News and Press, Invesco DB Silver Fund From 01/30/23

Summary Silver prices are predicted to mount higher. Some experts predict these will total $30 per ounce this year due to the commodity's shortages. Another bullish factor could be rising money supply. The Fed could become dovish, thus devaluing the USD. I am bullish on silver, ...

Summary The first data point in favor of further gains to come is that the rally began on Nov 3 at 1618, when the Fed confirmed the pivot. The current daily RSI is extremely overbought and negatively divergent. Sentiment and the daily and weekly technical indicators make a strong ca...

Summary Gold had gotten hung up on $1800 many times over the last few years. Silver led gold higher and then got trapped around the $24 mark in mid-December. Even though the consolidation in gold and silver lasted more than two years (Aug 2020-Dec 2022), markets always need time to ...

Summary Gold deliveries in January have reached 6,327 contracts with only 178 remaining in open interest. While this fell shy of the last five minor months, there are a few signs that are noteworthy. The market remains in strong contango with the highest spreads seen since at least summ...

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 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 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 ...