Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market update
Silver Holds the Gap
May 22, 2020 - (Gold Market Wire) - Silver has hit the Gap line from the recent rally and bounced. The question is, can it hold? Here's the layout as it stands this European a.m.
Make no mistake, silver is under pressure. If we get a rally up spec traders may want to pick a place to flatten a bit or cut completely. Gold has found a small bid, which could help silver in the short term, by which we mean today's opening. It worth recalling that silver has rallied some 50% in a very short period of time, albeit from a low that occured during the "March Madness". Yes, silver is coming in to its own. Pullbacks should be bought for delivery and holding (i.e. "stacking") - but for traders the sidelines are looking preferable for the moment.