Silver has enjoyed an encouraging start to the year, receiving a boost from geopolitical tensions and the Fed’s balance sheet expansion. Now, however, these drivers have subsided or taken a backseat as silver trades narrowly beneath technical resistance. Without a clear fundamental catalyst, breaching the topside barrier could be too much too soon without a surprise uptick in volatility. To be sure, it seems as though the market is overdue for volatility after weeks of a subdued VIX, but banking on an immediate resurrection in volatility is a strategy that requires too much hope to be sound. With that in mind, silver ... (full story)