The metals bounce - consolidation continues

There hasn't been much to write about in the metals. The consolidation continues. It seems everything is quiet on the geopolitical front, but things seem to be warming up again. In the meantime the metals got the bounce that I was looking for, albeit a week or so later, and are back in the consolidation zone rolling forward to the inevitable break out that will almost certainly arrive before Q4 this year.


Gold broke it's bullish flag formation but it bounce off the long term trend line. This in itself is neither bullish nor bearish particularly. It continues to consolidate but the upward trend line is certainly showing a lot of resilience. There is a lot of ground to cover before attempting another attack on the 1360 strong resistance line, which is now forming a gradual down trend line.


There isn't a lot to say about silver really. It continues to meander up and down within the consolidation zone although the bounces and pullbacks do appear to be getting tighter, indicating that a break out or break down may be close. We need to see a strong break through $17.50 before confirming the upward momentum.

General markets have pulled back a little, but again, there isn't much to write about.
We might be seeing the beginning of the pullback in the dollar as it stutters from it's seemingly unstoppable rise of the past couple of weeks. If N.Korea and Iran start to play up then it will reaffirm pressure on the dollar so watch this space.

For disclosure, I'm not a professional financial advisor and this is not investment advice, merely my own observations of the market and indexes, so do your own research.


I am just waiting for the silver boom. What is your opinion: let's suppose that the gold/silver ratio reaches 50. Do you sell your silver bullion to buy gold bullion or do you sell your silver bullion only or you do nothing?

Personally I wouldn't do anything depending on the price of other assets. At some point I intend to start the cycle out of precious metals and into new technology and new energy companies, but I don't see that being an opportunity for some years yet.

I am 69 years old and I cannot wait for years. To me, it is silver in a near future or cryptos.

Or cash out, enjoy life and don't worry about investments ;)
Trying to make fast money is always a recipe for potential disaster. I've learned from my own mistakes. Precious metals are a waiting game, like it or not. I really can't say how long. Maybe next year, maybe in 10 years, but then when the price rockets how do you know when to sell?

Thank you for your continued support of SteemSilverGold

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