Hedge Funds (and Retail) are Buying Precious Metals

We've been watching retail investors interest in precious metals closely in 2021. Mention Volume has remained elevated since February and has continued to creep higher since then: +31% YoY on a 7-day moving average.

It's not just retail buyers who've taken notice, many hedge funds are reporting rotations into precious metals and mining stocks. The Prices of Silver (SI=F), Gold (GC=F), and Platinum (PL=F)  have all increased modestly from their March lows, but there remains the possibility that any one of them could "do a palladium" at some point in the future.