Loading ...Gold/Silver Ratio Important Point Here
The rising channel is hitting hugely significant overhead resistance now. That TRIX indicator (trend and momentum) is coiling just like it did before the last big move. In my view this is hugely significant and is telling us a major move is about to unfold…
GSR rose on breakout at 1. GSR fell on breakdown at 2. What will happen at 3 ? My money is on GSR dropping like a rock…
GSR doesn’t seem to stay above 80 too long so I suppose this is a very good silver buying opportunity. But since it seems that silver is valued in ounces of gold, instead of ounces of itself like gold is, I wonder why it goes through these periods of little value. Perhaps because governments once considered silver money but don’t really do so today. Also, does the GSR tell you anything predictive about the price of gold in dollars?
GSR dropping tends to be a good sign for PMs generally.
Oh and thanks for the Trix analysis. That’s very good.
Very silent here. Everybody thinking worst is over, although we still have some work to do I think, GDX has a gap at 20.6 and could even go to 20. Same for gold, 1270$ seems like last resistance, if it does not hold, $1250 next? Hard to imagine silver will not follow gold down. Next weeks crucial. FOMC meeting clue for direction.