Over the past few months we have noted a gradual increase in news relating to inflation—but during the past month this gradual increase has accelerated steadily and has now taken on the appearance of a virtual flood.

The ultimate resolution of this apparent contradiction between fundamental news and market performance could provide us with important future clues for gold and silver.

These moves were the first serious interruption to the bull market, which had not encountered a serious decline since the election of November, 2016. Since general market moves have been one of the most reliable historic indicators of precious metals market moves, we take a close look at these developments.