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Metal rally ignites: Silver surges back above $50 level
Higher than expected inflation, released on Oct 24 during to the BLS shutdown, brought back some calm in a squeezing metals market. While Gold went from $4,380 to just below $3,900, marking a 10.80% correction, Silver moved even more sharply with a drawdown of 16%. A comeback in the US Dollar and hawkish Fed repricings had severely hurt demand for metals. However, this demand is now rapidly coming back as the yet-again pushed back government reopening is being priced for a Republican sweep, where more aggressive fiscal spending is widely expected to remain reckless. This was one of the main proponent of the run in ... (full story)
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