- Solve real problems with our hands-on interface
- Progress from basic puts and calls to advanced strategies
Interactive Options Course
Finance Courses and Lessons
Topics
Language
Finance Courses and Lessons
Topics
Language
Posted August 14, 2026 at 10:15 am
After an explosive start to 2026, silver experienced a severe 50% pullback from its all-time highs into the summer months. Driven by crowded positioning and central bank gold sales to defend currencies, the metals market looked exhausted. However, early August brought a sudden reversal, sending silver 16% higher in a matter of days. Jim Iuorio of JI Financial Strategies breaks down the macro drivers behind the recent breakout in both gold and silver. A key catalyst appears to be recent currency interventions by the U.S. Treasury and the Bank of Japan. By actively working to strengthen the yen, the Treasury is signaling a broader effort to prevent the BOJ from selling U.S. Treasuries, reflecting deep concern over elevated long-term bond yields. Jim explains why this coordinated effort to cap yields, potentially combined with a weaker U.S. dollar, creates a highly supportive environment for precious metals. Furthermore, we examine the setup going into the highly anticipated August 12 CPI release, analyzing how a softer inflation print could ease pressure on the Federal Reserve and add even more fuel to the ongoing metals rally.
—
Originally Posted August 11, 2026
© [2023] CME Group Inc. All rights reserved. This information is reproduced by permission of CME Group Inc. and its affiliates under license. CME Group Inc. and its affiliates accept no liability or responsibility for the information contained herein, including but not limited to the currency, accuracy and/or completeness of this information, and delays, interruptions, errors or omissions. This information is an unofficial copy and may not reflect the official and accurate version. For the definitive and up-to-date version of any of this information, please see cmegroup.com.
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from CME Group and is being posted with its permission. The views expressed in this material are solely those of the author and/or CME Group and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.
Investments in certain commodities (precious metals) may be subject to significant price volatility and often involve risks related to market fluctuations, liquidity constraints, geopolitical events, and changes in global economic conditions that could adversely affect their value.
There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.
Spot currencies are not available at IBKR Singapore.
Related Articles
Join The Conversation
For specific platform feedback and suggestions, please submit it directly to our team using these instructions.
If you have an account-specific question or concern, please reach out to Client Services.
We encourage you to look through our FAQs before posting. Your question may already be covered!