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« Gold: Driven By The US Dollar And Hampered By The S&P 500 | Main | European Politics And Its Indirect Effect On Gold Prices »

Silver Prices rise but not in a convincing fashion



As the chart above shows silver prices have finally broken their downward trend. Silver had been performing poorly and had formed a number of lower highs which is never a good sign. However, that trend has been reversed as silver rallied following gold’s dramatic spike upwards. The technical indicators are on the high side but not extremely overbought as gold has been.

In the short term there could be a pullback from these initial highs, but longer-term silver prices will be dragged higher, ready or not as and when gold rallies.

We are holding for now but are actively looking for new entry points as we are not fully invested, and the US Dollar looks to be heading south given the change of mood at the Federal Reserve and imminent introduction of interest rate cuts.

Pick your shots wisely, don’t be in a hurry and do your own due diligence as a number of these stocks will outperform the Gold Bugs Index, the HUI and some will fall by the wayside.

The threat of interest rate hikes in the US  have sent gold higher as the Dollar weakens...

If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

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