Not So Precious Metals

Precious metals are in clear short and medium-term downtrends following a parabolic blow-off earlier this year. BTIG expects further downside as the primary trend begins to inflect lower.

Key Takeaways

• 1.Precious metals are in confirmed short and medium-term downtrends with their primary 200-day moving average trends weakening.
• 2.The 'debasement trade' narrative has cooled significantly, moving from institutional and retail euphoria to minimal market interest.

Table of Contents

• Not So Precious Metals
• Appendix: Analyst Certification and Other Important Disclosures
• Other Disclosures
• General Disclosures
• Jurisdiction and Dissemination

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