Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver Goes Vertical
January 29, 2021 - (Gold Market Wire) - Everyone in the PM arena is aware of how crazy Silver can get. But even by Silver standards, things are looking strange indeed. On the back of the Robinhood/Reddit shenanigans of the past 48 hours, one has to wonder exactly what is taking place in ALL markets - and Silver is no exception.
No doubt, the ratio is being crushed, and is off more than 2% on the day.
Well, either the marked is getting spooked something proper, by nefarious elements, or we have just fired the starter's pistol for Gold and Silver's long awaited bull run. The sense of monetary panic is growing, around the world, and Gold and Silver are becoming sought with a passion. If these levels hold into the close, the market will be proving itself. Seeing if the ratio move back up into the close will be a critical determinant in identifying the possible manipulation of Silver.
Core positions should be held with an iron grip. We are not yet at all time highs, and we still have a way to run. Establishing length into a 9% move is not advisable, but the market has the sense of panic today. That may be a harbinger of the future.