From $17 a year ago, the price of spot silver rose to an all-time high of $49.78 yesterday way faster than gold’s ascend. One factor is the Middle East unrest and many people who find gold expensive are moving to silver instead. [Read more…] about Silver Corrects
Who says silver is cheap?! Silver or XAGUSD in the trading arena is in fact trading at its all-time high along the much coveted gold or XAUUSD. So don’t get left behind… catch the silver express when it takes a halt! [Read more…] about Silver Joins Gold To Superstardom
Last October, my colleague mentioned that the price of silver has recently marked a new all-time high when it broke above its previous high at 21.34USD (kindly see this). He also mentioned that [Read more…] about Silver Breaks Down From Its Immediate Uptrend
Good day lads! Like gold (see my gold-related post here), the price of silver has recently marked a new all-time high when it broke above its previous high at 21.34. As you can see, a break out from a symmetrical pattern managed to propel it towards the uncharted territory. With its uptrend line still well intact, it would most likely continue to to head north. In the interim, however, the price of silver could weaken given its overbought conditions. If it does, its previous high and its uptrend line should act as supports to prevent the commodity from crashing. The sky is the limit for this second-tier metal and with its price far cheaper than of gold (presently trading below $22.00 per ounce), it has a greater propensity between the two, in my opinion, to deliver handsome gains.
It appears that the broad-based weakness in the US dollar has forced investors to place their funds in other instruments, making gold and now silver rockstars of the trading arena. With the Fed announcing its intention to increasing the money supply through quantitative easing (non-traditional monetary tool that allows the Fed to directly buy debt instruments from the US government, increasing the supply of the USD in the process) to encourage more lending and spending, the dollar’s strength would fundamentally be anemic. Risk appetite sparked from optimism in the other regions of the world also places a lot of downward pressure on the greenback. If these two factors, Federal QE and negative sentiment on the dollar, continue then the demand for gold as well as silver would likely remain at least in the near term.