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Silver’s Breakdown… Invalidated?

August 9, 2018, 8:20 AM Przemysław Radomski , CFA

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In yesterday’s analysis, we discussed the breakdown in silver and how the white metal managed to close below the $15.43 level (July 2017 bottom) for two days in a row for the first time since early 2016. The move was not fully verified by the 3-day rule, though. Silver closed exactly at $15.43 yesterday, so the question is if the breakdown was just invalidated and thus should one be expecting a huge rebound.

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Dec Market Overview

Gold Market Overview

There are plenty of myths about the gold market, in particular about the alleged factors which are supposed to prevent gold prices from declining. In this edition of the Market Overview, we refute five of them:

1. Trade wars and lax fiscal policy are negative for the US dollar and positive for gold.
2. Central banks’ purchases create a floor for gold prices.
3. The price of gold cannot decline and stay below the gold production costs.
4. There is a disconnection between paper and physical gold prices and the former has to catch up with the latter eventually.
5. The extreme bearish CoT positioning necessarily implies the turning point in the gold market.

Read more in the latest Market Overview report.

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