After a few months of hemming, hawing and rhetoric, US President Trump is set to announce his tariff plans today. What will they show and how will they impact “the markets”? That remains to be seen so all we can do is sit back and watch.
What we DO know is that the current intensity in the precious metals was set off back in December when we first saw the spreads blow out between spot and front month futures. These spreads have ebbed and flowed over time, mostly impacted by the expiration calendar, but they persist all the way to the present, as you can see below:…