What made this an interesting week was that gold made new lows for the move, but silver did not. The gold stocks (HUI, TGD) also made new lows for the move.
CEO Weber: “Hole HLD25-31 is the best hole drilled to date on the property and confirms the scale and continuity of high-grade silver mineralization at the Main Zone."
The precious metals industry called on Congress to pass the SILVER Act to address national security risks by strengthening the geographical diversity of U.S. precious metals infrastructure.
In the face of possible reasons (Iran conflict, inflation fears, etc.), why gold and silver prices should be going up, the price action of both since late January tells a different story.
The correction is expected to end, especially as the PM sector tends to bottom ahead of the broad market when pan selloffs occur. This zone is considered an excellent point to buy silver.
Silver's chart also weakened substantially, although it remains near important longer-term support levels and has not yet confirmed the same degree of structural breakdown seen in gold.
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?
Jp Cortez: “Alaska has a rich gold-related history, and I’m proud to have worked with lawmakers to pass pro-sound money legislation in the Frontier State.”
Silver needs to break over $86 and hold on in further pullback to $65. Nonetheless, the five-point pattern that has formed should be ultimately bullish.
