Housekeeping: Good Morning. The IGWT Report is out. You can download it here. We also have a pdf of it at bottom for weekend reading. We will cover this all next week as there is lots to read.
Gold Revaluation is a Process, Not an Event.
Today:
Premium: Copper situation explained in context of Silver- (starts 15:50)
Commentary: Silver Wants to Go Up
Markets Yesterday:
US equities rallied on Wednesday after the latest CPI report showed inflation eased in April
Premium/Markets:
Silver Wants to Go Up (see video, extended notes in premium)
Market News:
"US copper prices have blown out to a record premium over the global benchmark in London, as speculative funds pile in and traders are forced to cover short bets on the world’s most important industrial metal.Source: FT- now do silver and Gold.. financial vs real
"Several Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates. Source: Bloomberg
"Jamie Dimon said he’s still more worried about inflation than markets appear to be." Source: Bloomberg
Geopolitics:
"The Biden administration will accept a full Israeli attack in Rafah aimed at liquidating Hamas".
Iraqi armed factions said they targeted a "vital target" in Eilat, southern Israel, according to Asharq News.
Israel presented a proposal to Egypt to reopen the Rafah crossing with the participation of Palestinians from Gaza and UN personnel, according to Israeli media cited by Asharq News.
Some headlines via NewSquawk or DataTrek
Data on Deck: PPI then CPI
MONDAY, MAY 13speakersTUESDAY, MAY 148:30 am Producer price index AprilWEDNESDAY, MAY 15 8:30 am Consumer price index
THURSDAY, MAY 16Initial jobless claims May 11 219,000 231,000 8:30 am Philadelphia FedFRIDAY, MAY 17 10:00 am U.S. leading economic indicators April1
Premium:
Copper situation explained in context of Silver
Silver notes.
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