Recreational risk and trade policy stimulate defensive positioning
The CFO sentiment of the company remains acidic, with 60% that now expects an American recession in half of the year, an increase of 7% last quarter. Trade policy uncertainty – driven by renewed tariff threats from former President Trump – was central to the stage. The unpredictability has already processed capital expenditures and dull risky appetite, which enhances the attraction of defensive assets such as silver and gold.
Equits remain under pressure, where 90% of the CFOs predicts that the Dow will re -test for 40,000 before the progress is higher. These Bearish Equity -front views coincided with the increasing demand for metals such as portfolio covers, in particular because inflation problems and geopolitical tensions continue to show visibility.
Silver still undervalued versus gold
Although gold is broken at all times above $ 3,040, the relative performance of Silver remains modest. The gold-silver ratio is still above 90-far above the historical standard guarantee how undervalued silver stays in relative terms. Traders start to rotate in silver on this decoupling, especially since the physical question remains robust and ETF inflow starts to pick up.
Industrial supply and demand crisis add long -term support
The dual roll of silver and both a monetary and industrial metal reinforced are case in this environment. The question of solar energy, EVs and other green technologies remains determined. In the meantime, the market is on schedule for a fifth consecutive worldwide delivery deficit in 2025. The structural deficit has some analysts who ask for a relocation in the longer term above $ 40, with aggressive predictions that indicate $ 75-$ 100 on an offer Squeeze.