SBUG News and Press, iPath Silver ETN From 10/26/22

Summary Due to the Fed's rate hike regime, the Dollar Index has been rallying since the summer of 2021. A drop below the 50-day and then 110 would signal that the uptrend has been broken. One should expect the U.S. Dollar Index to anticipate the eventual Fed policy reversal an...

Summary Since breaking below $1700, gold has been trapped around $1650. Silver saw a strong rally above $21 but then broke down below $20 again. While many indicators are bearish, the absolute lack of interest shows that the market is starting to bottom. ...

Summary October gold saw very strong delivery for a contract that is neither major nor minor (10x bigger than minor but 1/10th the size of major). Total contracts delivered so far (22,450) is 20% larger than last October and still has about 800 contacts remaining in Open Interest....

Summary On a weekly basis, we can see that Gold remains in a bullish flag pattern. Silver more often than not disappoints, then one day, it just goes ballistic. The level of desperation has reached the point where the Treasury asked primary dealers if Treasury should buy back ...

Summary We've been waiting all year for the eventual Fed "pivot", but there are no signs of it yet and, for now, COMEX precious metal prices continue to fall. In our annual forecast we wrote back in January, we stated that "2022 was going to be a volatile and unpredictable year", ...

Summary The relentless fall in gold inventories continued again in October. While the overall vault decrease has slowed somewhat, the fall in Registered (925k) has already exceeded the total in September (600k) and will more than likely eclipse June (942k). The story in silver...

Summary The Fed continues to emphasize that they plan to stay the course on rate hikes to reduce inflation back down to 2%, which is virtually impossible given that inflation is a supply-side phenomenon. Performance of the monetary metals since the FOMC rate hike on September 21 h...

Summary The UBS Constant Maturity Commodity Index and other commodity index strategies slumped during September. CMCI declined by 5.5% in September but remains up 8.4% year-to-date. The Bloomberg Commodity Index declined by 8.1% in September and remains up 13.6% year-to-date. ...

Summary While we await the eventual central bank pivot back toward easing and QE, COMEX digital gold and silver have been whacked, cracked, and shellacked. There's a lot going on behind the scenes in the commodity markets. For example, crude oil demand should be falling with the g...

Summary Managed Money continues to hammer the price of gold lower as the Net Short position increased to -43k contracts. Gold: While Managed Money grows more pessimistic on the metal, the overall market continues to shrink. Managed Money has also absolutely hammered silver low...