Weekend Show – Doc & Jeff Christian – Gold & Silver Go Parabolic: Momentum vs. Macro
This week’s Weekend Show dives into the blistering rallies across gold and silver. First, Richard “Doc” Postma lays out why he still thinks we’re in the early innings of a secular bull despite extreme readings on the charts. Then Jeff Christian explains the mechanics behind silver’s breakout – what’s real, what’s hype, and what it means for investors as speculative flows collide with shifting macro risks.
- Segment 1 & 2 – Richard Postma, a.k.a. “Doc,” a longtime technical analyst and market commentator, who shares why he believes the gold and silver bull market is still in its early innings – highlighting record highs, strong technical momentum, supply deficits, and undervalued producers – while also noting his portfolio strategy across miners and his growing interest in oil and gas opportunities.
- Segment 3 and 4 – Jeff Christian, Managing Partner at CPM Group, explains that the sharp rallies in silver (back over $50) and gold (near $4,300) are being driven primarily by speculative/momentum buying amid rising political risks – rather than a “silver squeeze” – with temporary London tightness and a reversed NY-London arbitrage contributing at the margins. He adds that central-bank buying has cooled, CoT positioning isn’t extreme, refineries are backed up converting investor bars, and while prices look overheated short term, longer-term support comes from a fraught global political and economic backdrop.
- Click here to visit the CPM Group website to learn more about the firm.
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When a government goes down the slippery slope of money printing what you are doing is greasing the wheels of speculation. When the money supply increases the public and institutions start looking for ways to increase their wealth even further. As time goes on the inflation of credit becomes more and more dangerous.
Speculation starts absorbing more and more of the money supply as prices rise on all sorts of hard assets and in the stock market. The normal course of The Federal Reserve at this time is to raise rates, which cuts the legs out of speculation. But The Fed would rather sit back and hope that speculation cures itself.
If The Reserve raises rates it runs the risk of bringing about a decline in the stock market, also forcing businesses and the government to pay higher rates. Instead they do what human nature always does and that is to take the easy way out. So, the money printing becomes more pronounced and so does the danger.
Now we have Trump wanting to lower rates to keep the money spigot flowing. If The Fed was to ask Washington to increase rates to force up the price of money for speculative purposes the permission would be denied. The trap was set a long time ago and no government would want to be associated with a terrific smash in the economy.
So like any Ponzi Scheme you have to wait for the pin to meet the bubble. DT 🧨