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The US Dollar is the Driver of the Gold & Silver Sectors

Commodities / Gold and Silver 2021 Jul 28, 2021 - 01:59 PM GMT

By: Lorimer_Wilson

Commodities

The U.S. dollar, as the world reserve currency, is still the driver of silver, gold, and inflation pricing and the charts below show that they should now be ready to run based on the USD topping and then dropping in “price”.

At this point the U.S. Dollar has corrected upward but has now either entered its next top, or is very close to that overhead resistance. Thus, we appear to be at the point where the USD will very soon start to move lower causing Precious Metals pricing across the board to start to move up aggressively, once again. In fact, I suspect that we saw a glimpse of exactly that into the close last week. All USD comments are on the chart.


GOLDRUNNER

SILVER- READY TO RUN?

The second chart shows the Silver price cycles from July into August in the Silver bull market. At this point in time Silver appears to be mired in a large triangle correction that appears ready to end. With Dollar weakness most likely to be the driver of higher Silver and Gold pricing, soon we can see the probability for Silver to bottom in the triangle very soon. Thus, the set-up for Silver (and Gold) to take off to higher prices appears to match the USD’s terminal run on the chart above.

POTENTIAL UPSIDE SILVER TARGETS

The final chart of logarithmic Silver shows Silver currently sitting around the bottom of a huge triangle yet, with the USD now appearing to be topping at this time, the odds are very good that Silver will be climbing aggressively in price. The potential for Silver to start a run higher out of its triangle is very good as the USD tops. Thus, the potential for Silver to bust upward out of the triangle for a coming $8 to $10 run-up to $33 to $35. Such a run would likely cause the Silver stocks to surge.

GOLD

If the USD starts its next decline very soon, then Gold would obviously very likely make a big run higher, also. Such a run would likely take Gold up to its old highs, and then higher although we will leave that chart for another day.

THE BOTTOM LINE

The bottom line is that “everything real” should now be ready to run based on the USD topping and then dropping in “price”.

By Goldrunner, a frequent contributor to munKNEE.com – Your KEY To Making Money!

Lorimer Wilson is editor of www.munKNEE.com (Your Key to Making Money!), publisher of a daily FREE Financial Intelligence Report which can be subscribed to here and a frequent guest contributor to www.PreciousMetalsWarrants.com which also offers a FREE newsletter (sign up here) and a subscription service (see details here).

Disclaimer: Please understand that the above is just the opinion of a small fish in a large sea.  None of the above is intended as investment advice, but merely an opinion of the potential of what might be.  Simply put:

The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Comments within the text should not be construed as specific recommendations to buy or sell securities. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions.


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