Loading ...Gold and Silver in Canada
BUT Silver looks like a POS !
My question and Thesis is….
Why Does Silver HAVE to be in lockstep with Gold.
Right now ( in Canadian Dollars) Gold is resuming its Bull Market after a 7 Plus year Consolidation
While Silver is absolutely in a bear market and looks listless.
If Gold is to resume its once mighty role as Real Money…why does Silver have to participate ?
This is a real question.
…………………………
Added Fibonacci tool to the 2 charts and one must admit its a stunning divergence
Gold in Canadian Dollars fell to around the 32.8 Fib and has rebounded to now only about 10% below its all time high.
Silver fell MORE than the 68.2 Fib and is still below that mark…and still about 60% below the ATH.
……….
Here is an interesting chart which shows the Gold: Silver Ratio at a critical point ( Gold Silver Ratio in US Dollars)
Is this a breakout with a backtest right at the apex ?
Or is it about to be an around the apex move ?
One thing to note Gold started its bull market in 2001 and Silver flatlined until 2004
I agree Fully.
Like I posed in my post, Gold may back our currency once again and maybe that’s why the dollar flies AND gold with it.
If silver isn’t used as currency, like in the past, and doesn’t back anything why can’t it go down with a soaring dollar?
I think that may surprise a lot of people if it doesn’t follow Gold.
Not seeing it … looks like a double bottom to me in both the dollar and dollar/CDW monthly charts. Silver looks super strong, whether in dollars (up 16.8% since Nov ’18) or the dollar/CDW (up 18.3% since Sept ’18).
Things are breaking out everywhere … we need to remain patient. I think the catalyst that will begin moving it faster will be when gold breaks through $1365. Wouldn’t you prefer this pace … we don’t need moonshots … slow and steady.
Fair points AFA …But fundamentally Gold has a good shot at resuming its important monetary role…CBs will Need it to support their currencies…but will Silver be used to back currencies ? looking at the above charts you must admit there is a great difference in their trajectory.
I would love to see silver rise with Gold…and that is usually the status quo…but so far there is really no sign of this.
I’m in agreement with all being said, however, silver engages later than gold … once the masses, hedge funds, institutional money are convinced gold is in the next leg up ($1365-ish) silver’s engine will begin running faster. The above chart shows me silver still doesn’t outperform gold until the later stages of a bull leg … I’ll remain patient. Michael Oliver showed silver broke out of it’s long-term momentum when it touched $16.18 on 31 Jan … interestingly, it closed today at $16.18. Expect faster movements upward soon, although 18% in just over 3 months is already a large gain.
Can you post an updated Silver monthly chart? Has silver broken back above the long-term trend, or is that still to occur?
Trying to keep the optimism up … what we are seeing is very promising.
yup, slow and steady. go for a month holiday and it could all be over in a heartbeat.
http://www.goldchartsrus.com/chartstemp/BubbleComparisonsFutures.php