Could the Fed set silver soaring into 2023?

Last week the FOMC minutes showed that the Fed now saw a US recession for 2023 as pretty much a ‘base case’. This was a surprise revelation and allowed markets to sell the USD in the expectation that the Fed will be less aggressive in hiking rates now. Markets now only expect a 50bps hike at the Fed’s December meeting. Before the Fed meets there are a couple of crucial economic data points: US PCE and NFP this week. So, if we see a miss on the US PCE data or a miss on the NFP data, then the market will start to expect a dovish Fed on Dec 14. If all that moves that way the USD will likely fall lower, and real ...