When a country starts to develop economically, a few things tend to happen: the death rate falls, workers become more productive, consumers consume more, and birth rates normally fall. During this period, countries experiencing such changes have a relatively small number of retirees and a small share of the population composed of children.
Weeks before the Russian invasion of Ukraine, I highlighted Comex data points that could signal a big move ahead in gold. The invasion may have been the spark to light the fire, but the data showed the groundwork was being laid back in January.
Silver has now sent up its own flare that may be tied to the largest data adjustment ever seen at the CME for silver.
