Afternoon everyone….
We’ve been watching gold take substantial rises over the past two years, while silver has been lagging behind. Like the red headed stepchild.
I’m not going to bore you with charts and following the candles trying to confuse you. Instead all the research I’ve done on both metals, I’ll just give you the crib notes.
Hold has been holding steady around the $3,300 range. It seems to be the sticking point for the moment. Last week we finally got a taste of silver showing some breakout numbers while gold stayed even.
Both are currently up today. But if you notice silver is leading the charge over gold.
Why???
There have been some unusually large private purchases of silver. Unless it’s a country within the LBMA, nothing has to be disclosed. So my theory is that silver being undervalued countries or large investors are seizing the opportunity to get in early.
If silver does not have a pullback this week, I think that’s it’s going get very interesting out there.
Look at today’s chart from Kitco
What do you think???