Silver Prices Continue To Slide
Thursday, May 16, 2019 at 10:02PM
Silver Prices


Todays drop was pretty bad for silver prices. The recent high of $16.25 now looks like a distant memory as the summer doldrums are upon us. There two main reasons for this fall in my humble opinion and they are the US Dollar and the S&P 500.

The US Dollar has managed to retain a position above the ‘97’ level when the expectation was that it would fall due to the US debt situation and the massive amount of money printing that has taken place, Alas, the other currencies are so fragile that the US Dollar is still the best looking horse in the glue factory.

The general markets as represented by the S&P 500 has had a very good run for 10 years and a correction is long overdue. A small correction has taken place, but it was swiftly followed by a technical bounce which regained most of its loses.

Until both of the above finally take it on the chin the precious metals sector will trade sideways at best. However, when they do enter a bear phase this tiny will rocket and take us all by surprise.

Maintain at least a small position in this sector and be prepared to increase it once gold passes $1365/Oz, the next stop being $1450/Oz.

 

Take good care, Bob K

 gold also fell out of bed today....

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