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      Metals outrank money

      Silver overtakes the British Pound as the World's 11th most valuable asset. Data from

      @AssetMarketCap - not exactly sure how they calculate all this market caps (futures & physical?)

      Metals outrank money
      Source: @AssetMarketCap
      1979

      Silver is on track for their best year since 1979 – a year that delivered the Iranian Revolution, the second oil crisis, double-digit inflation, a sliding dollar, the Soviet invasion of Afghanistan, and the Hunt brothers’ memorable attempt to corner the Silver market.

      1979
      Dr Copper too

      US copper futures (/HG) all-time weekly closing high.

      Dr Copper too
      Source: Trading View
      Homebuilders

      Homebuilders chart has something to tell us...? Note the big trend line as well as the 100 day coming in right around these levels.

      Homebuilders
      Source: Barchart
      Not good, says Elon

      Beijing's shift to require government licenses for all silver exports from January 1, 2026, replaces the old quota system and threatens to limit outflows from the world's top refiner. Elon Musk warned this hurts industries like solar panels, EVs, and electronics that rely on silver's conductivity. With a 148.9 million ounce deficit last year and another projected for 2025, prices have nearly tripled since January, drawing eyes to potential $100 highs while skeptics note volatility risks.

      "This is not good. Silver is needed in many industrial processes." (Elon on X)

      What a week

      Silver up 18% this week. That's the most since Feb 1998(!). And it comes after last week having the best week since 2020.

      What a week
      Source: Trading View