November Technical Report - Precious Metals Analysis

The pivot to a faster pace of taper allows the Fed to raise rates sooner and expectations have moved relatively quickly with the Fed no longer lagging market expectations as sharply as before.

This year has been dominated by a largely ‘risk-on’ approach to asset markets, with equities and crypto price moves symptomatic of that environment. Is that changing?

China’s property market should continue to be a source of stress. It is both ‘too big to fail’ and way to big to go away quietly.

Wishing you all a very Merry Christmas and a Happy New Year.