Loading ...The Downside Case
It’s hard to gauge the PM market reaction to rate cuts and huge stimulus measures, and even harder to know the extent and duration of global, Coronavirus induced trade paralysis. $1400 gold and $14 silver would give a GSR of 100, and set up a very low risk entry point.
I’d be very surprised if we closed month below 16…
Me too, but less surprised than a week ago. Silvers role as poor mans gold needs to resume.
We are due for a short term oversold bounce very soon but my Cycle work shows lower lows are extremely likely given that based on my normal timing bands it is still early and the next major low could be over two months away. If correct, we need to see some sideways chop before we drop again.