Last weekend everyone slightly wished they owned silver. The social media-driven investors who so upset the market with their short squeeze on GameStop spent Saturday and Sunday chatting about doing the same to the metal — which obligingly rose 7.7 per cent on Monday alone.
So where are we in the cycle now? At the beginning of the good bit (from an investor point of view at least.). The big metal miners effectively went on investment strike in 2014 — stopping almost all expansionary spending with the result that a large number of industrial metals were already in short supply even as we went into the pandemic last year.
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