On August 25, 2019, we said the following of silver:
“The trend is up, what remains are the buying opportunities (based on the upside targets above) and a lot of patience.”
Since that time, silver has had the following price action.
Clear buying opportunities have opened up in the intervening period from August 2019 to the July 2020 period. In addition, our point that precious metals prices decline during stock market declines has continued to hold up as highlighted in our articles published on November 8, 2008 and September 14, 2014. The mistaken belief that precious metals are the place to be if the stock market “crashes” because they act as a hedge, meaning generally increase, is mistaken.
Our next update on the price of silver will review the upside resistance targets so that those interested in the precious metal can be more selective of where they plan to initiate positions. We hope to continue the tradition of providing the least expensive lesson on the behavior of precious metals.