Silver and gold price breakout to accelerate in an abnormal way – Michael Oliver
Repost from 3-25-2021
“We added in late 2018 to our bullish view and then the price broke out. If you look at a gold chart to go back several years you’ll see this big basing action where gold labored with all of its highs being about $1350. It couldn’t get through there. Multiple rallies failed and in 2019 it finally punched through. Silver did the same thing in July of last year. Now these are fresh massive base breakouts. We’re talking bases that go back years…You don’t punch through something like that and then say ‘Oh. It’s all over. I’m going back down again.’ This is a huge base for gold, a huge base for silver, and we think the bull trend is likely to extend for a couple more years at least and probably extend in a way that is not normal.”
USAGOLD note: We are always interested in Michael Oliver’s current thinking on the precious metals markets. We agree with this profile of Oliver posted by one of the viewers: “Mr. Oliver is one of the very best analysts out there, most are not worth anything, but a very few like him are quite worth listening to. He also isn’t afraid to take a stand and place his bets on his opinions, unlike just about every newsletter guy out there!” He says the upside moves in gold and silver will be “far more accelerated, far more dramatic” than they were in the 1970s.