Precious metals have launched higher, led by silver and the miners, but paper traders so far appear to have missed the move. Outflows continue in SLV specifically, and paper gold funds generally, as buying bottoms continues to prove to be exceptionally hard for weak hands. They’ll begin chasing at some point, but the longer it takes them to catch on, the more sustainable this move will be. Meanwhile, Japan is selling US Treasuries at the fastest pace on record, causing severe liquidity strains and near-failed auctions in the bond market. Keep the paper coming guys! There’s quite a lot more to sell.

precious metals have launched. Premiums continue to rise. Interesting to note US mint is selling 2023 peace dollars for $89 dollars an oz.