THE DOT - if this turns orange or red be alert

Sunday, August 6, 2023

Silver brainstorming


 Silver in earlier Bullion smash campaigns went  far lower and is now more resilient and sticky which rather implicates a bull campaign is due. Global rising industrial demand gives underlying strength and GSR around 82 shows its relative low valuation hence upside potential. Expect a break above the 25.50 level in Sep with a quick rise towards 30 after 26.50 and 28 hurdles are cleared. Til 15th rather upside momentum with heliocentric Mercury but overall choppiness as Venus retrograde lasts til 5th Sep which should be strength relief point for PMs in the following months and years. For now the rising yields have been a drag while mining stocks are undermined by general stock weakness we can expect them to outperform in September, early sign of resilence should be followed by strength once Gold trades above 2k and Silver above 26 creates strong demand by FMs followed by retailers above 30.

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