What Happens To Gold And Silver Next? Look Out Below?

Guys, I am back after taking an extended vacation over the summer.

I see gold remained in its uptrend and never touched yearly lows, if any thing, its getting closer to its 52 highs.

The uptrend remains and once again, as it again hits 52 highs, should ramp up again.

Could be this where gold finally lifts off and stops acting so sloppy, will it clear the overhead resistance in price that has constantly been present?

Silver had a lovely flash crash, which as always when they happen, should be bought in any asset. Again, with summer trading, these sort of things pop and one should expect violent moves. While is acting it right, it still lags gold here, in my opinion, for the time being.

Also, have you seen the powerful and continued uptrend in Palladium. Also, other base metals are now starting to move higher and back in uptrends in price such as copper, nickel and aluminum.


more later....

some very beautiful uptrends in miners. Please note tho, these set up and started their march higher over 2 weeks ago so dont go out rushing to buy them right here, right now.

some select names that look beautiful are

RGLD
FNV

SilverTracker-

If I was looking to buy silver, lets say I was looking for a trade, the buy, in a shorter time frame would have been when it cleared 17.75, perhaps a few dimes above there.


now I realize most of my coin collecting friends here are probably looking at a much longer time horizon.

What would get me very interested in silver and thought the probabilities were looking good for much higher prices?

First and foremost I would like to see silver breaking those yearly highs, thats where I would take a line and see if one could ride it much higher. That yearly high currently is 20.24, if it broke it higher, I would start at 20.25 or a little above that.

Why wait for the yearly high? Because I want something to measure how strong the buying is and I want the market to do the heavy lifting before I starting buying. I am interested in putting as many of the probabilities on my side and yearly highs are a very good indicator of strong buying interest on the part of the market and also will help the uptrend since yearly highs in time result in much higher, fresh yearly highs. It all feeds on itself to produce much higher prices down the road...

Now, in a shorter term frame, or context, silver right here, right now, doesn't look bad. You must remember, the short time frames can, over time, can help us determine how the trend is coming along as the larger moves come with a continuation of short term moves that build up slowly. Remember, everything in markets is a PROCESS and this is done through the element of TIME.

So IF silver can continue this march higher and hold these gains, it will ultimately change the strength of its current trend and make it stronger.

As I mentioned in my previous post, gold is within striking distance of yearly highs, whereas silver is lagging. Why? I have no clue,, perhaps gold is going to leave silver in the dust? Maybe silver will speed up and catch up to gold? Hard to say, correlations come and go so its best to pay attention to price.

So for me, I say again, silver hitting yearly highs would really my interest and my money. Until then, I personally would not really be interested. Gold would be more of my style due to, again, its price action.

One last observation regarding gold and silver is that it would be good to finally see both make their respective grinds higher with gradual pull backs instead of how they run higher and then have violent pull backs that last for weeks and weeks, in which they erase much of their forward progress.

While gold looks great and silver has been constructive, they have done this before and then months later their move up in price get cut back. MAYBE this time they are ready to fly, MAYBE not.

When we deal with financial assets, we do not know what the future holds, nothing is certain. we only can work off of probabilities and patterns, looking for a change in tone or behavior from previous times.

I wish I could have answered this in less 3 sentences but there are many variables out there, markets are always fluid and dynamic, always changing.

I hope that helps...

@punman

the standard measure of an asset is based on a yearly low and a yearly high, also known as the 52 week high and the 52 week low and this has been in place since the 1800s.

Nothing else matters, whether it be 6 months, 20 month high etc, you can put in whatever high for that fact, such as "gold is at a 4 year high". Ok so what does that mean? It means nothing.

If one is involved with any sort of financial assets, you should take note of when yearly highs are high and when yearly lows are hit. Nothing else matters.

They are significant because when a yearly high gets hit, prices tend to go higher and momentum builds to the upside and conversely, yearly lows signal much lower prices to come and downside momentum accelerating.

https://www.etftrends.com/gold-etf-...ts-its-fees/

here is an update on this fund which actually allows you to buy gold and redeem it, the best part is they have lowered their fees as of late AND still not deal with tax implications when you get your physical gold back.

I am glad to see someone has stepped up to offer safe way to buy gold through the exchanges AND allow you to redeem the actual coins.

Sorry to say, but this makes absolutely no sense, and perhaps even sounds a bit ludicrous to most collectors, stackers and even long term investors.

For example; (look at a 10 year chart for silver) buying the yearly high in silver has only panned out for a period of approximately 3 years, from about 2008 to 2011. But then again no matter wether you bought the low or the high in '08, '09 or the beginning of '10, you would have been in the green by '11, thats if you were fortunate enough to get out right before the bubble popped.

I mean there must be a reason the saying goes "buy low and sell high", no? Also I assume the majority of the readers here are not short term traders waiting to capitalize on the potentially short term strength of a commodity.

I wouldnt advise anyone to wait until anything hits its high to start buying, sounds reckless to me. Again using silver as an example; Silver has bottomed out to around $16 3 times in the past year, and each time it has bounced. If you asked me each one of those was the time to buy. And some of us did exactly that. But please don't tell me to wait until its over $20 to start buying.

keep an eye out for silver and gold deal with their respective pull backs...

how deep, how long, etc