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I've been saying for weeks I want to see #gold catch-up more to silver as they BOTH break higher.
An ideal bull market move is both metals running together with #silver outperforming.
We haven't gotten that. So I took a stroll down memory lane to look for clues... 1/
An ideal bull market move is both metals running together with #silver outperforming.
We haven't gotten that. So I took a stroll down memory lane to look for clues... 1/
Silver first hit 30 in Nov 2010. Gold at the time hit ~1420.
We chopped for a few months, then #silver finally broke to a new high on Feb 17th, 2011 (10 yrs ago today). Gold was 1380.
Over 1 month Silver rose 20% while gold simply returned to its Nov high at 1420. 2/
We chopped for a few months, then #silver finally broke to a new high on Feb 17th, 2011 (10 yrs ago today). Gold was 1380.
Over 1 month Silver rose 20% while gold simply returned to its Nov high at 1420. 2/
About 2 weeks later, #silver rose ANOTHER 10% to ~40 as gold inched 1.5% higher from its Nov high to a whopping 1440.
By the beginning of April, silver was running unstopped to 50 and Gold FINALLY joined the party, running up a quick 10% to 1580. 3/
By the beginning of April, silver was running unstopped to 50 and Gold FINALLY joined the party, running up a quick 10% to 1580. 3/
Since Nov 2010, Gold gained 10%, all in the last 1 month of the run while silver DOUBLED from the Nov lows.
We could see history repeat, as silver takes off to 50 and gold remains in a wide range between 1770-2100, then a quick jump to ~2300 right at the end. 4/
We could see history repeat, as silver takes off to 50 and gold remains in a wide range between 1770-2100, then a quick jump to ~2300 right at the end. 4/
The question though, is that all she wrote? Like it was in 2011? Will that mark the top, or is this MASSIVE 50 yr cup and handle in #silver going to go "3 taps then break" and double yet again?
I'm guessing you guys already know my opinion on that.
/End
I'm guessing you guys already know my opinion on that.
/End
