Gold and Silver Market Update May 10th 2019

2019-05-10  |  Financial & Gold News

Silver bound to drop to 13.00 Euro/oz and will then start to go Up

We know this behavior of silver quite well. One of the most interesting aspects about silver is, that once it starts to perform, it outperforms any other (known) asset class by factor 8.
The above chart shows Gold vs Silver vs Stocks over the last 20 Years. If you would have invested back in 2000, your still be better than stocks, even with silver. 

Gold may bottom around $1,200 to $1,250 per Oz

Gold and Silver are in the bottoming phase along with seasonal patterns. The bottom is not in, but may be nearer than we think. The downside potential with gold within the falling bullish wedge is in the area of $1,200 to $1,250 per Oz.

Chart 2

Later in autumn and winter, we might see gold breaking out from the ascending triangle shown in the weekly chart.

Chart 3

Again, once the $1,350 level will be taken out, technically can rally to $1,500 in a short period of time. If you are in the game for the long term, these prices levels provide excellent buying opportunities. 
Read more about the latest technical gold research on Midas Touch h