Silver had a nice surge earlier in the year as Gold surged to $1550. Overall, Silver has underperformed gold this year and remains undervalued relative to gold. As the metals finish and round out of this consolidation (retest of the breakout) look for gold to move towards $1711 and $1834. Silver and Platinum will both follow gold's move and will outperform. We could see 26/OZ Silver and 1200/OZ Platinum as soon as the 2020 spring.
Silver needs to hold above key support, which lies around $15.65-$16.10. A break below this would not be good for the metals market. I will be accumulating shares of junior silver miners throughout this consolidation.
Miners can be volatile. Know your risk tolerance, know what you're trying to achieve.
Comentário
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revising my target down. Aiming for $22-$24 silver. $26 would be lucky
Breakouts out of 6-year bases don’t just end in a 1 month surge. This is the retest of the breakout point and we have higher targets. Silver and broad commodities have underperformed gold but have been rising - this is what we should expect. At the beginning of bull markets Gold normally leads commodities. Gold has been very strong since it bottomed at $1180 in November 2018.
Ludwig_Von_Mises
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The metals correction is almost over. I suspect the low is already in though we could grind lower for a little longer. After this correction gold is onto $1600 then $1700 and $1800. Silver and platinum will outperform
awh2830
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Which jr silver miners do you like?
Ludwig_Von_Mises
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@awh2830, There are several I like. My biggest holdings are in AUMN, EXK, and FSM. Relative to my whole portfolio I have large positions in Spanish Mountain and Canasil Resources. I also have a sizeable position in IMPUY, which isn't a silver junior but the rather the world's biggest platinum producer
Not investment advice. DYDD
awh2830
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@Ludwig_Von_Mises, i own a lot of fsm and exk have been buying since 2017. I'll take s look at the others, thank you.
Ludwig_Von_Mises
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@awh2830, If you scroll to the bottom of my profile, I have charts of AUMN, CNSUF (Canasil), and SPAZF (Spanish Mountain).
I also highly recommend following iGold Advisor on youtube if you don't already