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Metals Minute 23: Precious Metals Trends

April 14, 2021741 view(s)

Gold and silver continued their upward trend from last week, with gold up 6/10 to $1752 and silver up 2% to $25.52. Platinum has taken a pause, down 4% to $1192, and palladium is up 2% to $2721, amidst news that the flooded Russian mine is now coming back online.

Looking at the 1-yr mark, we see gold is up 1%, silver up 62%, platinum up 52%, and palladium up 22% since this time last year.

It is reported in the metals community that Bank of America entered a short position for physical silver, to the tune of 300,000,000 ounces, borrowed last year for $18/oz or less. The current price indicates they are currently over $2 Billion underwater on this trade.

All told, it is believed there are silver short positions industry-wide totaling 850,000,000 ounces. This helps explain the continued manipulation of the silver price to limit the upside.


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But manipulation requires some physical silver, which has been draining from the Comex, due in part to the #Silver Squeeze movement.

Meanwhile, inflation is roaring back as the money supply grows well beyond GDP in many nations, including the United States.


About the Author: Bill Stack


Financial Analyst of 29 years and Gulf War Veteran, Bill has been helping families nationwide keep their money safe and growing since 1993. As a Certified Financial Fiduciary® and a RICP®, Bill specializes in helping protect your assets with growth potential.

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