NBC News: Silver And Wow
Article by Kelly Evans in NBC News
In case you haven't noticed, the silver and gold trade has practically left even the AI trade in the dust this year.
Gold is up 65% this year. Silver is up 125%. And it doesn't end there. Platinum--Jeff Currie's favorite--is up 117% this year. Palladium is up 93%.Copper is up 37%.
What gives? I asked Currie, the famed Goldman commodities analyst who now works with Carlyle, about this on the show yesterday. Currie, if you recall, nailed the global inflationary spike during Covid by explaining quite simply that we had too many stimulus dollars chasing too few goods.
So how does he explain the landscape now? Why are all the metals flying higher, while oil slumps to multi-year lows?
"If it's in the periodic table, and it has an atomic number attached to it, it's the debasement trade," he said. "If it's a molecule, and it has a carbon in it, like oil, gas, corn, or wheat, it's struggling."
And there are two dynamics driving the current "debasement" trade, he added. One source of demand is coming from anyone who wants to own something "money-like" other than fiat currency. Another is ......