Loading ...It could be a bottom but where will it go?
240-250 HUI before it turns right back down? 280 on the high side?
If we are going to have a sustained rally into May-June, there will need to be much higher metal prices. Silver is the key, and if it doesn’t get up around $30 there’ll be no sustainable rally. Gold will have to break out well above $2100 too.
Silver’s purchasing power has fallen well over 200% (inflation adjusted) since the 2011 highs. Gold just down whatever inflation has been since then, what 50%? At least. Most shares, even worse.
Hard for me to see a turn as we’ve been on lockdown for the last 13 years. The pattern is that we will likely give up today’s gains tomorrow. I’d love to be wrong for a very long time and see some serious upside.
Will Bitcoin get the gold treatment once the ETF’s really get rolling?