Live from Vancouver $VRIC, I speak with Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, about the state of the precious metals bull markets and why he was cautious on silver passing $100/ounce.
Precious metals are in a strong bull market, but currently experiencing high volatility and rapid price swings due to retail investor enthusiasm.
Silver is particularly volatile and may experience large corrections; investors should avoid chasing prices and wait for pullbacks to enter. Mining stocks have yet to catch up with metal price gains, presenting an opportunity after an expected market reset.
Risk management and profit protection are crucial; scaling out of positions during rallies and re-entering after corrections is recommended.
Long-term outlook remains very bullish, with potential for gold to reach $10,000 and silver to reach several hundred dollars per ounce.
About the author
Founder and President of GoldSeek.com and SilverSeek.com
Twitter: @GoldSeek
His experience with the precious metals markets started back in the mid-1990s, which led to the creation of GoldSeek.com in 1995. Today GoldSeek.com ranks within the top, most-visited gold investor websites in the world with a 250,000+ global monthly reader outreach. Its sister site, SilverSeek.com, is ranked as the most visited silver website in the world recently reaching 100,000+ monthly silver investor readers.
With over 15 years of experience with investing into gold and silver mining companies, Peter devotes much of his time researching, consulting and investing into gold and silver stocks with a primary focus on micro-caps. His focus is also heavily on gold and silver’s return as monetary metals and the ongoing monetary and financial developments with a global perspective.
Back at the start of the new secular precious metals bull market, Peter established the technically+fundamentally-focused subscription newsletter, Gold Seeker Report. In 2005, he merged the service and co-founded The Gold & Silver Forecaster weekly newsletter.
Peter also specializes in assisting start-up / micro-cap ($1M - $100M+ market caps) companies connect with investors, capital among other specialized consulting services - typically IPO, undiscovered or turnaround situations.
In 2008 he launched an online gold and silver auction house - SeekBullion.com - which in its first year has auctioned over $10 million in bullion and coins with an additional $10M in the coming couple years. In 2012 the site is now under re-development pending a future re-launch.
Peter also makes frequent appearances in the media, including Investors Business Daily, MarketWatch, Reuters, and theStreet.com
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