I’ve been following the market and analyzing it now for over 30 years. While I’m not a financial advisor, nor am I going to give any advice. I am merely going to give my opinion on what the charts and say to me over the last several weeks. I’m also going to give my opinion on where I think we with be heading for the next couple weeks.
Let’s start with gold. Gold has had several pretty volatile days over past three weeks. There have been three over $30 moves either up or down. There have been 8 double digit moves up or down. But with all that said gold there is less than a $2 difference in today’s price from the price 3 weeks ago.
Silver on the other in the last three weeks has been extremely volatile. Silver is down nearly $2 from where it was just three weeks ago. Silver has had giant swings in both directions, but mainly down.
Before I give you my opinion on the next couple weeks, here is today’s screenshot from Kitco.
Over the next two weeks, gold will stay within it’s current range. Likely stay between $1700-$1750. Unless something unforeseen happens, this will be the range.
Silver is much harder to analyze. There is no true reason why silver is taking a beating. It’s not justifiable, there is a physical silver shortage. Dealers can’t get orders fulfilled, premiums are through the roof yet the price is going down. So where will the silver price go over the next couple weeks? Looking at the charts my opinion is that it will continue to get beaten up. We could see $24 silver in the next two weeks.
