Gold, silver keep surging, how much higher? Bitcoin to join?
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
At this point, you’re sitting on a cushion, even if you took the more prudent suggestion of waiting for gold to get above $1900 to pull the trigger; ditto for silver , which trades over $22.50 this morning.
Zooming out to the weekly chart shows momentum in gold potentially has a long way to go before topping out and a crystal clear bounce off the 200-week moving average. Will prices test all-time highs before momentum sputters? What I do know is that this is where the stackers shine, as they are naturally predisposed to just hanging on.
Silver looks ready to cross back over its own 200 week moving average. The momentum coil I pointed out a few weeks ago is turning back up; price could’ve just printed a false break down from its long sideways consolidation. I am looking forward to the silver price getting back to the top trendline. A breakout above and a move to $30 comes into sight in my opinion.
A check-up on Bitcoin which is also fighting to get back over its 200 week moving average. A weekly close above could be the signal for stackers to add, and/or traders to get long. A move above the dashed line and I think Bitcoin goes on a whacky upside run, yet again.