Loading ...No that’s just a function of liquidity.
The assholes in charge will never support PMs, commodities, or anything else that does not perpetuate their bubble economy(s).
So, they have lots of money to perpetuate their bubbles, but none for ‘commodities’ because that would reduce support for their tech stocks that can be spun on infinitum depending on how much fiat is available to keep the Ponzi going.
Of course, not everybody is stupid, so ‘commodities’ (especially PMs) maintain value, making them good candidates to sell when their precious tech stocks (and banks, et al) are going down, until they are forced to puke those up too – which tends to scare the crap out of the bankers – so they start printing with abandon – which causes them to lose control of PMs (all commodities).
So PMs get none of the printed currency at source when liquidity conditions are good, and none when it’s bad until central planners start printing again; and the idiot investing public realizes what is happening and starts directing more currency in their direction.
This normally takes about 6 months from a top. This is a double top in stocks (even if it goes a little higher), and the PM shares have absolutely no speculative bid in them thanks to these machinations, on top of other factors like bitcon sucking all the air out of the room, so nobody knows how long it will take for junior PM shares to bottom this time, but it may not take the full six months – or maybe it takes longer because this is a grand supercycle top. (extending hundreds of years back to the beginning of America)
Who knows. And I do think many poorly positioned juniors might not make it in 2024.
So pick them carefully if you are playing them.