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Precious Metals Investing

Commodities / Gold and Silver 2014 Jun 20, 2014 - 04:13 PM GMT

By: Jonathan_Davis

Commodities

The below is Silver. Silver broke up out of its 1st and 2nd hurdles this week. The 2nd is the lower falling trend line, shown.

It is a fair assumption it will close above this line tonight. In other words, it will have a weekly close above Resistance. This is important to the bullish case.


The target now for Silver is $26/26.5. That equates to c $1500/1550 for Gold. As recently as December Gold was sub $1200.

We bought, heavily, into Gold and Small Capitalisation Gold Mining shares in the Autumn of last year.

The leader (leading indicator) in the Precious Metals market – Small Cap Miners – has been moving like a rocket ship. In just the last two weeks it has rocketed a massive 28% (in US$).

The technical indicators are very positive and confirming the trend is up.

The minimum target is $60/65 but I suspect it will be more like $90.

This year.

NB. In early 2011, the GDXJ Index peaked at $180. Look where it is now, in comparison.

I hasten to say though we remain of the view, until something changes it, that precious metals are still in a long term bear market, which started in 2011.

We would have to see Silver rise above $28, with strength, before we would even contemplate that the long term trend has changed from down to up, for Gold and Silver and mining shares.

Nothing in these articles can be taken as financial advice. Neither Jonathan Davis nor Jonathan Davis Wealth Management will be held responsible for action taken or not taken from reading these articles.

We recommend investors seek bespoke advice before acting.

By Jonathan Davis

http://jonathandaviswm.wordpress.com/

25+ year veteran of the world of financial services, the last 10 doing the same thing under his own name.  We work with families all over the UK and in Switzerland and, indeed, on 2 other continents. If interested in our Wealth Management work, cast a glance at the firm’s website.

From time to time media folk call me and ask me to rant live or in the press.  JD in the media.

I don’t buy hype.  I don’t believe it’s the end of the world but I do believe, within a generation, the West will have no welfare state.  The maths don’t lie.  We’re toast.  It’s obvious if you think about it.

© 2014 Copyright Jonathan Davis - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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