Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver Still Stuck in the Doldrums
August 3, 2021 - (Gold Market Wire) - Silver is still being hemmed in by the Downtrending Channel, and Gold is continues to cling to $1800, in a lifeless market. That is the cold, hard reality of a market that has truly gone to sleep. The volatility sellers, i.e - the professional market makers - have been the only ones making any money. Those that held short premium positions at the money have cleaned up. All others have either done little, and those long options premium (the buyers) are getting more worthless every day as theta kicks in and drains their pockets.
and a close up:
There is little to add, because the charts ays it all. Until the channel gives way, all bulls should stay on the sidelines. Every anticipation for a breakout has been proven foolish. Technically, one could even consider a spec short up here - but only a spec. The market is listless. Volume has taken a hit during July, and August has started off no better.