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Not looking good for our beloved precious metals friends. The risk appetite for metals was there throughout the late-2010/2011 uptrend in equities. Will the slumping metals now drag down stocks with them in the name of risk aversion and deleveraging?
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Watch this stuff get cheap and then watch the masses accummulate, knowing that USD destruction is coming, without any doubts of any kind.
One should not buy PMs to trade. That would be like using your car insurance or health insurance money to instead make money in the market.
I still don’t see how people can think PMs are the ultimate safe haven. Look at the enormous moves this year! In my opinion, PMs are just one huge ponzi scheme and meant to be traded.
At this point, nobody knows what the safest play is – to say otherwise is idiocy.