Big silver move ahead? Gold/Silver ratio hits resistance
Please see chart below for more information.
The gold/silver ratio today bounced off 79.42/1 which is getting very close to 80/1 resistance.
Over the past 20 years the 80/1 resistance level has signified very strong and prolonged rallies in silver resulting in a doubling in price in 1998 and 2003 and hitting the long term high of $50 an ounce in 2011.
The ratio is now beginning to fall as the price of silver recovers slightly but could this mean that we can expect a significant rally in both silver and gold. Don't forget, when the ratio falls, it generally does so as both the price of gold and silver rise, it's just that silver tends to rise and fall faster, in percentage terms, than gold.
The chart is very compelling and could mean that we have seen, or will very soon be seeing the low's in gold and silver.
Please feel free to resteem if you think so. We need to get the word out.
modified chart source: www.macrotrends.net (excuse the crappy editing - I did it in MS paint!)
on point. that ratio is likely to drop soon and fast. eventually we will see much higher silver prices.
Totaly agree.
Thanks for the comment. 'Eventually' being the key word I think ;)
upvoted and resteemed
Thanks for that.
Yes yes yes!
I don't wish to get too ahead of myself, but I agree with your sentiment. Please feel free to resteem so that we can get the word out.
Certainly
My fingers are crossed for that ratio to drop, but with these crazy central bankers... i wouldnt be shocked if we started kissing the 90's in the ratio :/
Fingers still crossed though
Good content though, following now!
Yes, anything is possible, although the commercials are aggressively reversing their short positions as we speak so let's wait and see. We should know in a week or so.
Thanks for following too.
awesome pattern...hopefully we see something BIG coming, but the honest truth is that is while metals are still manipulate.
Imagine when the real price shows up...whooooooo hooo....but mang still SUCH A TEASE
Remember, that they could be manipulated to the upside also. It's just a matter of when.
Manipulation will melt away
We are definitely getting close to a spike up. Nice charts. Do you have charts that show the ratio drop due to a lower gold price? Has that occurred in your research?
Generally speaking when the price of gold drops, the price of silver drops faster resulting in a higher ratio. I'm sure there are short term examples of gold falling and silver not following but from my research this is either short term (a matter of days) or fairly insignificant. The big moves almost always see Gold and Silver moving together.
Thank You!
66 votes $1.14.
This certainly isn't any get rich quick scheme :-)
No its not, but the majority of those votes are from minnowsupport which arent worth much. Its whale votes that count.
Not that, that should be the motivation.
Thanks for the explanation.
If you'd like to join there is a post about it here:
https://steemit.com/minnowsunite/@hypexals-spiral/minnow-support-project-how-to
There are a few things you need to do and it isn't that straightforward, but just go through the guide and you should be OK.
Thanks that's very kind of you. Looks like a comprehensive set of instructions.