Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold & Silver Market Opening
Silver Leaps Higher Again as Bull Keeps on Charging
August 6, 2020 - (Gold Market Wire) - Silver has made yet another dramatic leap higher, with prices up 3% overnight. The market continues to charge, and the long awaited pull back continues to fade into the background. It is now a question of grabbing what you can, when you can. The momentum seems unstoppable - with all the due care that we at GMW give to that term.
We are now firmly in the trend of a paradigm shift in the precious metals arena, and where it comes to an end is anybody's guess: $3,000 say the banks, $4,000 say the investment funds, other professionals with a long track record of making serious money will espouse anything from $5,000-$50,000. In our humility we will simply note that there is a technical perspective to Silver's breakout - and we consciously use Silver now, because it is Silver that is leading the Precious Metals arena higher. The Chart:
So, fairly clear sailing ahead for Silver, as well as for Gold, now continuing in uncharted territory. On the short-term chart we can see that Monday (August 3) was our pivot point, which was followed by the gap higher that we are running with now.
Before long, we expect that Silver will join Gold in the "uncharted" category. Many other market participants do as well, which is why we are seeing daily moves higher in Silver which, if they were isolated, would raise a few eyebrows, but when taken together are simply breathtaking in their scope.
And so, the bull keeps charging, the pull back everyone was looking for is sliding away, like water one tries to hold in their cupped hands. We have entered a true paradigm shift that is likely to mark out a historic change in the western world of momenteous importance. Trust in government is now evaporating - which is why the metals are rising. As we cross the rubicon into a political world beset by acrimony that looks unlikely to abate anytime soon, metals are providing the insurance that they have always had claim to, throughout human history.