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

that would be a pretty big drop by tomorrow morning, I. guess time will tell if gold drops $76 overnight.

Hit 18.07 bounced down to 17.95

Most of the stock markets seem to recover already and the exchange rates seem to stabilize now. I'm curious to see what the effect on precious metal will be.

(Really a dumb choice, that Brexit. And the first promise by the 'leave' campaign is already broken: there will not be £350 million for NHS, Nigel Farage said this morning.)

Point well taken.

Now that the States' 17 tn boondoggle.

Following up from overnight...

into the opening of our cash markets, gold and silver followed through with fresh yearly highs.

Silver made a yearly high of 18.42 and gold 1362.60, its been a choppy sideways uptrend but just think, if you been buying even as of middle of February you are up almost a hundred an ounce. Talk about the power of the trend, follow it and you can bank coin, on the way up and down.

Now where do we go from here? Who knows, we are, as I have been repeating since this started yearly highs, in an up trend. It has not been straight up but its still been pushing higher.

I make note of a few things here. Notice that silver did not manage to close above its previous break out point, which is 18.06 whereas gold managed to stay above the break out from the previous yearly high which was 1318.90, by a smidgen.

Going forward its possible we again see the usual pattern of make a yearly high and pull back. OR... we finally see a breakout with follow through, which are very profitable from a trading and investment stand point. The BEST yearly high break outs are the ones where a yearly high is made and then it continues to grind out higher for several days and then goes into consolidation. This is something we have not seen yet in gold and silver for the most part.

Eventually a move like this should happen, as the more an area in price is probed, the momentum gets behind and powers up. Time will tell. I think, based on price, one reason we are seeing this pull back action after making yearly highs is because of the various levels of overhead supply from the 4 year downtrend gold and silver were in.

In any case, if you have been buying at the start of this uptrend and before the yearly highs were hit, you are sitting in some nice profits.

@zack

In in financial markets, trying to make predictions is really pointless and putting a target price on an asset is really worthless because many times it goes farther than what was thought OR goes lower than thought possible.

So the newsletters or anyone that puts a price target on something years and years out will end up being wrong. Trading, investing is not about predicting prices and what will happen. Rather, the big money in markets is made by getting in the trend as it starts, gives confirmation and laddering in on the way up if you are buying a trend.

So this is how I personally approach any trades. If this is going to sound familiar, it should because its what I have been saying since day one-

1- I identify if its turning higher or lower from a break in price and how far from making a yearly high or low.

2- I want say 10,000 units of whatever it is. If it is making a yearly high, I take 3,000 units and sit on it.

3- I watch it... it starts running,, goes sideways, pulls back..makes yet another yearly high.. I add another 4000....

4- runs one more time,,, and after some time, makes a yearly high.. I add my final 3000 units

5- now I am done adding. I now sit tight, put a % stop, and leave it alone. I let the market run it up, I never put a price point or predict it is going to X. I just ride the trend.

So as you can see, I never put price estimates into any equation when I am trading. Trying to predict a price just doesn't work in markets, the market is too dynamic, always changing and it is better to just concentrate on the trend. By doing this, you will make large profits, if you let the market take care of how high it wants to push an asset.

If I were you, I would be buying silver now, remember you should have been buying silver already in February. You can still start here but remember we are getting farther and farther away from the initial point to add.

As an example, when silver made a yearly high, I went and bought Pandas, elephants in silver and then I bought somalian gold elephants. I might add some gold here as well and silver on the way up tho most of my purchases are done for the time being.

As far as gold and silver, it is really up to the market to decide how far and how high they go. Before you can start to think about silver at even $100 an ounce, silver has to get back to its all time highs and thats going to take a LOT of time. Then it has to climb another 50 dollars an ounce.

Silver, along with gold, are climbing out of their downtrends. Anything is possible HOWEVER remember we have 4 years of OVERHEAD RESISTANCE, in terms of over head supply and that is not absorbed immediately.. that is going to take a lot of time.

Wow, I remember looking at my Phone the morning after Brexit and WOW, silver and gold were already going up fast!