News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire... Gold Market Wire... Gold Market Wire
Gold Market Wire... Gold Market Wire... Gold Market Wire
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Silver Moves Sharply Higher

July 21, 2020 - (Gold Market Wire) - Silver has exploded higher today in what can only be called a historic move. These are the times when the superlatives run out and really, only the chart can speak to the absolutely dramatic events of the day.

a moonshot, no less.

Silver has been up over 6% on the day, and where the sellers will come from to keep the market down is anybody's guess. These are the kinds of trading days that get talked about for years going forward.

Although Silver's move is vertical and retracement could well happen, there is little to stop the market moving higher over the medium term and long term. Any drawdowns should be bought - without the suicide wand of margin - and length should now simply be held. Silver is heading much higher, and a move to $30 seems to be a most reasonable target now. If we imply the historic ratios of Gold to Silver, one would have to envision an eventual move towards $40 over the next year to 18 months. As the ride develops, controlled disciplined profit-taking will become the order of the day, but that is some way off. Of course, physical will have to be held close to the chest in the event of a global monetary collapse and reset, which is becoming more likely by the day.

For now - enjoy the ride.

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