We are encouraged by silver making a lower low, even as gold made new lows. A divergence? The TGD also made a higher low, although the HUI joined gold in making small new lows.
All have fallen under the 200-day MA. All are in official bear markets. The intermediate (weekly) trend has turned down, a sign that one should be shifting out of the precious metals.
What has been encouraging is that silver, unlike gold, did not make new lows for the down move. Yes, the gold stock indices did but silver's non-confirmation could signal a potential low...
All bear markets. That’s the bad news but the good news is gold is up 168% from its key 2022 low, silver up 287%, while the TGD is up 258%. Is the glass half full, or half empty?
