Loading ...SILVER WEEKLY
SETTING UP FOR A WEEKLY HIGH CLOSE AND BREAKOUT
Anybody know what the catalyst was in FED speak today ? Clearly Powell said something to spike PMs and General markets.
I though he said NO rate cuts until Inflation is clearly trending towards 2%. It is clearly NOT…even with their Bullshit CPI
My understanding is the big relief was that the dot plot for 2024 did not change, which indicates 3 rate cuts iirc.
That was enough to get the entire market rallying.
Let’s see what the miners can muster from here.
As usual, the metals themselves look outstanding on pretty much every time frame. It’s the miners that are in doubt.
It’s always those damn miners…
Reading between the lines they have signalled (in only the slightest way for now) that they will be tolerating a higher than 2% inflation target down the road. Subtle and they don’t want to come out and make it official but the markets, particularly commodities and especially gold and silver have both snuffed it out and confirmed it.
The miners outperforming the metals for a year or more seems like a fantasy, so long and brutal the bear in the ratio has been.
The declining 600 WMA in the HUI:gold ratio is finally–after almost a decade–approaching the flat 200 WMA. This year SHOULD see a positive cross of those two MAs for the first time in 10 years, unless the HUI completely falls apart relative too gold.
While long, I am still weary of the mining stocks not being able to make a real move (in my mind that would constitute crossing above the 200 WMA) until later in the year.
go GOLD
UUP gapped higher this morning right up to resistance on the 2 hour chart, then started a move down, closing well below the open price.
Currency moves may have been a factor in the PM and stock markets.
A got to be in it to win it example
WPM and other Royalty Streamers should do well. Their costs are controlled.
Another $200 Gold increase and $10 silver will do wonders for the shareprice.
I remember buying the old Silver Wheaton shares at under $2 in the early 2000’s. The price is $60+ presently and threw off an annual dividend of roughly 1%.
Not investment advice, do your own DD but it’s fairly stable even if some projects are delayed.
Over the next few years their GEO (gold equivalent ounces) are rising.