Silver Price Analysis
Markets are in turmoil again with US consumer sentiment plunging, and US inflation rising to 4-decades highs. Silver is only up 0.18% this week with all this news?? Selling below the $21.50-$21.45 area would reaffirm the bearish bias and pave the way for additional losses. Resistance was near the $21.90-$22.00 support breakpoint. If we can hold $22 we could see some near term bullish action. With the news I think there may be some fleeing to PMs for protection even as the dollar continues to maintain strength.
Silver Chart
Portfolio Update
My current assets are valued at $1651.43 with a total acquisition cost of $1716.17. It was once said the metals were a good place to hid during these types of markets. With algos trading everything now a days market move in lock step. I'm going to continue to add because I believe silver is way undervalued compared to gold.
Asset Allocation Chart
Asset Holding by Product