We remain skeptical of sustained strength in gold and silver with the markets generally relying on a single force of weakness in the dollar.
Read MoreWith a macroeconomic washout pressuring the commodities, the path of least resistance in gold and silver is pointing down.
Read MoreWe leave the edge with the bear camp as the 2nd day of US Federal Reserve Chairman testimony to Congress is likely to reiterate the need for a higher terminal US interest rate.
Read MoreWhile we would like to see gold and silver buying come alive with sharp sustained gains off classic inflation expectations, we remain very skeptical of that capacity given the rising chorus of Hawkish Fed statements.
Read MoreJust as a cease-fire or sign of negotiation in the Ukraine situation could have hammered gold, palladium, platinum, and silver prices lower, a full-blown invasion by Russian troops has lit the bullish candle.
Read MoreWith the dollar continuing to fall, we expect gold and silver to grind higher, but in the event the dollar recovers we expect gold and silver to fall quickly back to last week's low.
Read MoreThe primary trend in the precious metal markets might become no trend as noted weakness in the dollar has been countervailed by periodic concern over rising rates.
Read MoreWe see the trend remaining in precious metal markets with palladium and gold likely assuming leadership roles.
Read MoreThe Omicron surge has moved inflation off the headlines for now, leaving the gold bulls on the defensive.
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