Post by
101724 on Feb 11, 2023 9:30am
Dollar vs. Metals
The US dollar against the yen is currently at $131.38 which is very strong but way over-valued. Gold has held strong between $1850-$1900 and silver between $22.50-$24. Base metals have also held stong despite the US dollar strength. Copper has been in the $4-$4.25 range and zinc in the $1.40-$1.50 range. Most people talk about low supply being the catalyst for a metal run. I think they should be focused on the dollar more than the supply and demand. When the dollar collapses, and history shows it will collapse, that's when prescious and base metals will run. A 50%-100% jump in metal prices would not shock me. Now you throw in supply and demand and that's when you'll see the share price of miners jump 300%-500%, if not higher. You may as well throw oil and bitcoin in the mix. $120-$150 oil is coming. Just a matter of time. I don't see any of this happenning soon but, 9-12 months is a strong possiblity. Just my opinion on a boring Saturday morning.