Silver Christmas

What is happening in the silver market is nothing sort of remarkable. Over the last month, silver sport price has climbed almost 42%, for an incredible 143% YTD return. The imbalance between supply and demand that you can see on the chart below, and the dual “personality” of silver as precious metal and industrial component of solar panels, EVs, and chips is creating an incredible squeeze that is pushing the price up. As a commodity is also benefiting from the fiat currency debasement theme, rising alongside gold due to gigantic deficits and levels of debt most governments carry. This Christmas, If you asked Santa Claus to bring you some silver, you probably didn’t find it within the gifts this morning, but that doesn’t mean you miss behaved, it’s just that there is no physical metal available.

Merry Christmas.

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