Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Opening
Silver: The Channel Takes Control
August 25, 2020 - (Gold Market Wire) - Silver's recent rally has stalled out, and the Channel described in the chart below is now firmly in control. Consolidation is the order of the day.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/5f44c612fec57a7e63fb2593_ss%208%2025%2020%202x.png)
The downtrend continues to hem in the price action and consolidation is the order of the day. Our advisory last week that the market needed to get a move on now seems prescient. The failure to follow through and challenge $30 /.oz now leaves the precious metals arena languishing. Until the downtrend is cleared for 2-3 days - and preferably on a weekly or monthly close - we can expect more of the present action; a slow drift lower.