Gold & silver are down again as war escalates, sending oil prices higher and peace further away. But continued war means a weaker economy, bigger budget deficits, higher inflation, higher nominal interest rates but falling real rates, all of which are bullish for precious metals.

Gold & silver are down again as war escalates, sending oil prices higher and peace further away. But continued war means a weaker economy, bigger budget deficits, higher inflation, higher nominal interest rates but falling real rates, all of which are bullish for precious metals.

Gold & silver are down again as war escalates, sending oil prices higher and peace further away. But continued war means a weaker economy, bigger budget deficits, higher inflation, higher nominal interest rates but falling real rates, all of which are bullish for precious metals.