On December first, we recommended buying gold and Silver. It is clear now that this was day 1 of a new daily, intermediate and yearly cycle. The recommendation was to buy gold at 1800 which was 33 points off the low. We have since moved the stop to 1845 and will continue to advance our stops softly behind the 10 dma. It is way to early use tight stops. Today is only day 15 of the cycle. I had mentioned before that gold usually leads cycles early but silver actually looks to be leading this go around. My expectation is that silver will outpace gold this cycle. On the buy recommendation, we said silver should at least make it to the 26-27 mark and silver has already reached 26.35. We have advanced our stops to $24.75. Silver has made it to the top of this long consolidation zone we have been trading in since September 18 and has slightly exceeded it. It took silver only 3 weeks to to move 4 points from the bottom of the trading zone to top of the zone. Another 4 points to go and we will be at the top of the next consolidation zone, probably by the second week of January. Cycle Analyst Gary Savage from the Smart Money Tracker has posted a video which does a good job explaining how this process could unfold.
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May 2021
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