Silver suggests that wave ii did indeed end at 18.01, and we are working on a powerful wave iii rally that is full of nested bullish waves, as shown on our Daily Silver Chart.
Hemke noted that after a decade-long wait, silver has caught up with gold's 10-13% rally above $2100. Despite rising rates, gold is at record highs, and silver may now outperform.
The price action in silver is currently far stronger than gold. The pullback to the $30 area features a potential inverse H&S bull consolidation pattern, which is bullish.
The most significant silver rallies occurred during a period when the US Dollar Index was declining. For this reason, the direction of the DXY is an important signal for silver bulls.
It’s unfair for the U.S. government to tax capital gains on gold and silver. Those “gains” are the result of the debasement of paper money, which is the fault of the U.S. government!
Schiff noted silver's rise to $31.50, its highest since 2013, driven by lagging central bank interest. He predicts explosive growth in undervalued precious metal stocks and gold.
While gold has gotten the headlines, silver has had a solid bull run over the last several months. In fact, the white metal has outperformed gold in this gold bull market.
