Post #15987

The Precious Metal Story Just Got a Whole Lot Worse. Silver is getting crushed, down 10%+ and sliding toward $65, marking its lowest level since mid-December. The move is impulsive and liquidation-like, with volatility driving outsized downside. Silver is being hit by a hawkish global rates repricing on top of Iran war-driven volatility. With central banks holding firm and leaning more hawkish, the opportunity cost of owning a non-yielding metal is rising fast. The Fed stayed on hold but emphasized sticky inflation and conflict risk, with Powell leaving the door open to staying restrictive. The BOJ kept April hike talk alive, and the BoE held but struck a surprisingly hawkish tone. Markets have responded by pushing Fed easing further out and pricing more tightening elsewhere—exactly the kind of backdrop that pressures silver. You now how the majority of major central banks leaning hawkish. Not good for the non-yielding metal. - Alan