Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver Gaps Higher
August 31, 2020 - (Gold Market Wire) - Silver has gapped strongly higher today as the recent spate of killings between political factions in America takes its toll on the general public confidence and security. That receding confidence is now being amplified in the metals market and silver, long known as the "people's metal" is gapping higher and heading for a strong end of month close.
Coming as it does, at the end of the month, the power of the movie must be respected even more. Equally, if not more important, the horizontal line has also been breached, and ahold into the close will cement the bullish indication.
Pretty textbook stuff for Silver. If we stay above for the close, we will have a solid indication to establish length.
The tailwind at Silver ( and Gold's) back is now the completely horrific situation that the US political scene has delved into, including, now, summary executions on the streets for political allegiance. This is something out of the mid-1970s Vietnam war situation. Political affiliation is now a cause for execution. No wonder people are buying "guns and Gold". It is rapidly dawning on much of the global investment community, right down to the man in the street, that the US Presidential election outcome will be challenged, regardless of its outcome. That means political breakdown at the highest level, as well as on the streets of the major cities. America is truly disintegrating, and like the political fable of Humpty Dumpty... there seems to be no chance of putting it back together again.