Dopam
Short

Silver - Gold, still a safe haven?

BATS:SLV   ISHARES SILVER TRUST
257 1 0
Both Gold             and Silver             traded much higer before we reached the US debt ceiling in 2011. Again early next year we face this crisis. Congress will vote on rasing the debt ceiling sometime before March of next year. Gold             and Silver             traders are anticipating this move. However, with risk off and the US markets and Europe recession in play, the market fired back. Inflation is not a problem, deflation is a bigger risk in Europe, Japan and the US.

I traded Silver             SLV             ETF before the close of trade today. It is my belief the uncertainty in the markets these last few days has caused traders to carry trade to Gold             and Silver             . Resuming trade in equities will cause Gold             and Silver             to flatten around the 30 support line - or - if the market continues to go lower both gold             and silver             will quickly follow.
Dopam
4 years ago
Euro going higher usually means Silver and Gold follow
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