Silver/USD intermediary correction continues to slow | 31 October, 2020
Silver Price Forecast relative to
Long Term Monthly (LT-M) – Medium Term Weekly (MT-W) – Short Term Daily (ST-D) – and Hourly (not shown) data.
SILVER FORECAST
(Previous week in brackets)
| Silver/USD | LT-M | MT-W | ST-D | |||
|---|---|---|---|---|---|---|
| 23.59 (24.54) | ||||||
| Trend | ↓ (↓) | ↓ (↑) | ↓ (↓) | |||
| % Risk Weight |
76 (77) | 45 (53) | 27 (70) | |||
| PM Distribution Total allocation 50% (50%) |
Ag:45% | Au:35% | Pt:20% | |||
Silver/USD live price
23 October:: The early August 30 handle high for Silver vs USD was followed by some serious and typical Silver volatility. The medium term picture, like Gold, is now showing marginal signs of consolidation before fresh direction upward develops. The silver price is still subject to manipulation by institutions believed to be immortal. We hold on to our longer term targets. No Change.
GOLD/SILVER Ratio Price Risk Analysis
(Previous week in brackets)
| GOLD/SILVER Ratio | LT-M | MT-W | ST-D | |||
|---|---|---|---|---|---|---|
| 79.19 (77.06) | ||||||
| Trend | ↓ (↓) | ↑ (↑) | ↓ (↑) | |||
| % Risk Weight |
13 (13) | 39 (31) | 65 (40) | |||
| PM Distribution Total allocation 50% (50%) |
Ag:45% | Au:35% | Pt:20% | |||
Gold/Silver Ratio live price
23 October:: All risk weight timeframes are down but not strongly and nearing support levels. This is typical for all markets that have suffered badly and have disappointed investors. Having come down from the March highs to current levels around 75 represents an opportunity to reduce earlier losses or re-allocate with small profits. This takes time and the better strategy is just sit tight and wait for that definitive moment where Silver returns to its natural long term equilibrium with gold sub 40. Hence staying with an overweight silver in the precious metals space. No Change.