Why a breakout in silver is likely within the next 12 months

ETF Daily News/Taylor Dart/1-21-2020

image of silver bars with rising chart trend line in background
“In summary, while the lagging performance of silver may be discouraging, a breakout for silver is very likely within the next 12 months as long as gold can continue to hold its breakout level at $1,380/oz. Based on the amount of commitment the metal has shown to this breakout level thus far, I would argue that this is a very high probability.”

USAGOLD note: If Dart is correct that the next silver breakout might not become evident until October, there is plenty of time for physical buyers to stock up.  At the same time, we’ve been involved in precious metals long enough to know that when it comes to silver directional changes they almost always arrive unpredictably, quickly and with a vengeance. The best way to own silver is not in the futures market where margin calls or forced liquidations can become a problem, but as a physical holding that allows the virtue of patience.  If and when the breakout comes, the investor is then well-positioned to take advantage of it.

 

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