
When I was a markets reporter for a newswire service back in the 1980s, one of my favorite newsletters I received via snail mail was from a cocoa market firm in New York City. The one-page newsletter was plain and simple — and effective – providing brief bullet points outlining the bulls’ case and the bears’ case for the cocoa futures (CAK25) market. Below I’ll do the same for gold (GCJ25) and silver (SIK25), and then at the end I’ll share with you my present biases.