Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Metals Update: Silver Sheds the Downtrend
February 14, 2022 - (Gold Market Wire) - Silver has taken out the downtrend that has been with us for some three months in development, as it gaps higher and prepares to run further.
At the risk of tempting fate, it looks like the bottom is in...around $22.00 per ounce, as we pointed out earlier today. We're getting emboldened about the price action, as the precious metals have a lot of ground to make up to "catch up" with other commodities, like crude oil. It's time to add to core positions here, as we are likely to be at the start of a significant bull run. Yes, that can always be revised, but as it looks presently - the action is positive. If we re-trace/back and fill the gap tomorrow (without falling out of bed) we will take on some trading length.
The world is going through significant changes in a short space of time. The geo-political situation has been building for years, but with the US in political chaos from Trump to Biden to Covid, and Europe collapsing into total dis-unity the challenges to the Western world alliances and domestic political cohesion are becoming extreme. Confidence is government is being decimated. And Gold is feeding on that.