Loading ...Great Britain leading the way…
Some CPI releases coming out… and this HUGE increase for the British…
Silver loves increasing inflation rate!
Edit: adding how CPI is done in Canada .. couldn’t find equivalent for USA… and didn’t even look for GB
https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2019001-eng.htm
And yet the GSR is on the cusp of making a higher multiyear high.
I give high odds that gold and silver have topped and should correct for 6-8 weeks, perhaps longer. $gold is at absolutely nosebleed levels in the short term. I think $silver is likely dead money until the early summer. A test of the rising 200 day EMA would not be out of the question for $silver in the next couple of months.
$silver needs gold to go higher in order to rally, and I just don’t see it. If it were in the cards, the silver miners(e.g., SILJ) would be doing much better than they are. Either way, I this week and next are critical. So far this week has been devastating for silver in the short run, IMO and it will take an absolute miracle to reverse that.
Hi Nautilus! I’m not worried about the GSR… as long as silver and gold stay close to where they are… it’s still healthy and more “fuel” for when silver does start regularly out performing gold (start next leg up from a higher price point than when last time GSR was at ~94). From my recent look at it.. there is a 25-45 day lag before silver starts to outperform… after gold breakouts (on daily chart).. we are just 5 days in that last gold breakout. So indeed.. that could be a sideways move/slow drift for silver in coming weeks. Hey give the poor guy a break… not easy going 100 miles an hour!