- After years of suppression of silver prices by various financial in institutions and central banks, silver is on its way back to fair market value (determined by natural market forces: Supply & Demand)
- The Fundamentals for precious metals (especially gold&silver) are strong; weak dollar, global economic uncertainty, inflation (primarily due to Q.E & lower interest rates, potentially even negative rates).
- at 61.8 and 200 ema support level.
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BTW this is just my opinion and would love for you to share your thoughts as well :)
I agree with your analysis. I personally view any pullbacks (although you can argue this is more of a correction since Silver essentially fell over 8% from its recent high) as a buying opportunity. It also finished above 18 which is bullish, held 18 which is bullish, finished off its low which if bullish and has been oversold for the past 2 days.
Many people confuse the real reason why precious metals will soar over the next year and for the next 4 or 5 years. People view precious metals as rising because of trade, Brexit, HK protests and China-USA trade. Yes, these are driving precious metals higher but this is short-term noise. Just wait until Gold gets to 1600 and Silver gets to 20.00. You people will see moves to the upside that you never could have imagined.
The real reason precious metals are surging/will surge even higher is because of world-wide quantitative easing, monetary policy and a global currency crisis/devaluation to overextend the stock market bubble. Whether Powell cuts to 0 by December 2019, or Q1/2/3/4 2020 is a moot point and he's delaying the inevitable. ECB will enter QE this coming week and that just continues to confirm the inevitable.
If he doesn't cut, surely Gold and SIlver will retrace but within 1-2 weeks they will bounce right back up as people will buy the dips. On the flip side, if Powell doesn't cut, where does the general market go, thats the real question for all the perpetual precious metal bears. The market hasn't had a real correction in 10 years and has already accounted for 75 bps of cuts by December.
- zSplit
zohn99
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@zSplit, Highly appreciate your input zSplit. Completely agree with your statements. The FED will have lower the cash rate; sooner or later, but it will be done. Our monetary system is just set up in a way were we have to go further into debt, thus inflating the price of everything.
zohn99
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not just that but i believe there are a few countries (China, Russia) that are accumulating a lot of precious metals and getting rid of USD
Many people confuse the real reason why precious metals will soar over the next year and for the next 4 or 5 years. People view precious metals as rising because of trade, Brexit, HK protests and China-USA trade. Yes, these are driving precious metals higher but this is short-term noise. Just wait until Gold gets to 1600 and Silver gets to 20.00. You people will see moves to the upside that you never could have imagined.
The real reason precious metals are surging/will surge even higher is because of world-wide quantitative easing, monetary policy and a global currency crisis/devaluation to overextend the stock market bubble. Whether Powell cuts to 0 by December 2019, or Q1/2/3/4 2020 is a moot point and he's delaying the inevitable. ECB will enter QE this coming week and that just continues to confirm the inevitable.
If he doesn't cut, surely Gold and SIlver will retrace but within 1-2 weeks they will bounce right back up as people will buy the dips. On the flip side, if Powell doesn't cut, where does the general market go, thats the real question for all the perpetual precious metal bears. The market hasn't had a real correction in 10 years and has already accounted for 75 bps of cuts by December.
- zSplit