Big Picture Gold-Silver Market Factors: Bullish factors include...

Big Picture Gold-Silver Market Factors: Bullish factors include (1) highly simulative monetary policies by the world's key central banks to prevent systemic stress in the global financial system and combat the economic damage from the coronavirus pandemic, (2) low global bond yields, which boost demand for gold as a store of value, (3) low global inflation that is dovish for central bank policies, (4) fund buying of precious metals with long gold and long silver positions in ETFs at or near all-time highs, and (5) safe-haven demand due to the coronavirus pandemic, trade tensions, end-2020 Brexit risks, and global geopolitical risks involving Iran, North Korea, and Venezuela. Bearish factors include (1) fears of long-term deflation due to the massive economic damage from the pandemic, and (2) sharply reduced industrial metals demand, including for silver, due to the coronavirus pandemic.