Wall Street Veteran Says Gold, Silver Charts "Among the Worst" — Are Inverse ETFs the Answer? - finance.biggo.com

AI desk brief

A veteran Wall Street investor turned bearish on gold and silver, arguing that rising U.S. Treasury yields have sharply raised the opportunity cost of holding non-yielding metals. He pointed to short-term Treasuries around 4.5% and 5-year yields above 5% as support for using inverse ETFs to express downside in October, saying gold’s chart is still holding its 20-month moving average for now but could accelerate lower if that support breaks.

The note also stresses that gold and silver may not behave as safe havens in a liquidity shock, with ETFs vulnerable to forced selling to meet margin calls. Silver was flagged as the higher-risk metal because more than half of demand is industrial, and the article cites prior correction drawdowns of 20–35% and the post-2011 SLV slump of more than 75% from highs.