🔊 Iranian navy to ship attempting to pass through the Strait of Hormuz:
“The Strait of Hormuz is still closed. We will open it by the order of our leader Imam Khamenei, not by the tweets of some idiot.”
@silver207141 Interesting, but I don’t see how the reduction in OI paper contracts on comex is correlated to an increase in direct deals between producers and users of physical silver. Also doesnt explain why volume dried up all at once end of Feb and didn’t come back for March contracts.
The US’ single biggest export in February was “non-monetary gold.”
Gold has been the US’ biggest export in 4 out of the past 5 months (it was the 2nd biggest export in the 5th mth.)
Trump is partially settling US trade deficits in gold, de facto.
This is NOT bearish for gold.
No buyers showed up at the Treasury auction, so the U.S. bought $15B of its own debt.
That’s not a functioning market. That’s intervention.
Next comes the playbook: inject liquidity, justify it with war, inflate assets, maintain the illusion.
This is how the system survives.