Silver targets $63. It looks like silver is forming an inverse head & shoulders pattern. Once the right shoulder is complete silver should initially go back up to to all time high recovering the entire $9 decline and then simple math suggests $63 target. The $9 amplitude of the formation applied to neckline at $54, suggests $63 silver price.
Assuming gold to silver ratio minor support comes at 70, at $63 silver price, gold should be trading at $4,400.
My ultimate target for GTS in the present cycle is 57, Gold $4,900 and silver $85...
Silver has been heavily bought up recently, leading to shortages in some regions. While prices are rising steadily, we’re likely at the cusp of a major rally. Growing demand and constrained supply could drive prices to new highs. Keep an eye on this precious metal! #Silver #Investing #MetalsMarket #Gold #China
Shuibei infor: spot price of 1kg silver bars, $60.28/oz; over 10kg, one month for delivery. Pre-sold for $52.34/oz silver bars, full payment,awaiting notification, no guarantee(merchant may flee). The pick up silver from the refinery, $56.7/oz, and buyers pay VAT and fees.
After a strong rally, expect a correction/profit-taking. For us, it's just a chance to buy cheaper and hold, hold, HOLD!! 🪙💛🎸 #Investing#HOLD#StockMarket#GOLD