Silver futures sold off overnight but rebounded, trading near $58.83, about $1 off all-time highs. Support from tightening inventories, strong industrial demand, and safe-haven flows reinforcing bullish momentum.
Phil Streel
ETF flows show strong buying in silver - added 3.64M troy ounces, sixth straight day of growth. Last week ETFs increased silver holdings by 18.9M troy ounces - a massive move providing structural support.
Phil Streel
Similar dip-buying mentality explains resilience in US equity markets - corrections are short-term and shallow due to continuous buying from 401ks and pension funds in Mag 7 names.
Phil Streel
Gold ETFs added 20,000 troy ounces, total gold held by ETFs up 17% YTD to 97.8M ounces - highest since October 24th. China's central bank increased gold reserves for 13th consecutive month.
Phil Streel
Stock futures hedging higher. S&P futures up 0.1%, NASDAQ up 0.2%. Big events this week: Fed meeting with widely expected rate cut, earnings from Oracle and Broadcom testing AI narrative.
Phil Streel
Only real risk to US equity markets would be Supreme Court ruling Trump tariffs unconstitutional - serious repricing risk. Otherwise markets have absorbed most news.
Phil Streel
CME FedWatch shows 87.4% likelihood of 25bps rate cut at Fed meeting. Dollar index sliding lower, Euro sideways to slightly higher after hawkish inflation print.
Phil Streel
10-year Treasury yield at 4.155% - teetering on small breakout. Yield curve steepening as short end anchored, long end extending higher.
Phil Streel
S&P gamma exposure still positive indicating lower index volatility. Expect volatility to pick up significantly around Fed meeting, especially with hawkish cut scenario.