Silver Target of $26 as Silver Plays "Catch Up" to Gold
Silver had a nice surge earlier in the year as Gold surged to $1550. Overall, Silver has underperformed gold this year and remains undervalued relative to gold. As the metals finish and round out of this consolidation (retest of the breakout) look for gold to move towards $1711 and $1834. Silver and Platinum will both follow gold's move and will outperform. We could see $26/oz Silver and $1200/oz Platinum as soon as the 2020 spring.
Silver needs to hold above key support, which lies around $15.65-$16.10. A break below this would not be good for the metals market.
I will be accumulating shares of junior silver miners throughout this consolidation.
Miners can be volatile. Know your risk tolerance, know what you're trying to achieve.
Silver needs to hold above key support, which lies around $15.65-$16.10. A break below this would not be good for the metals market.
I will be accumulating shares of junior silver miners throughout this consolidation.
Miners can be volatile. Know your risk tolerance, know what you're trying to achieve.
Comment:
revising my target down. Aiming for $22-$24 silver. $26 would be lucky
