miningstocks
A bearish signal behind silver’s recent surge that has accurately predicted market downturns before? Brace yourself for the possibility of a major decline. In yesterday’s session, silver did show relative strength compared to gold (chart courtesy of GoldPriceForecast.com) The problem with this rally in silver is that silver’s very short-term outperformance of gold is a bearish sign – as simple as that. We’ve seen it on multiple occasions, and this signal proved to be reliable. Of course, there are no certainties in any market, but this is one of the more reliable indicators. That’s not the onl...
ValueWalk
Very little happened in the precious metals market yesterday, but something major happened in stocks. And it has important implications for PMs. The debt-ceiling deal rally took stocks to new highs, and they are about to encounter a very strong resistance in the form of the mid-2022 high. This level is likely to hold due to the part of the cycle in which the market is most likely in (“return to normalcy”), and also due to the analogy to the previous situation when stocks first declined on huge volume and then rallied to new highs. That happened in late-2021 and it was followed by the all-time ...
ValueWalk
Crescat Capital’s commentary for the month ended October 2021, titled, “The Macro Case For Precious Metals.” Q3 2021 hedge fund letters, conferences and more The Macro Case For Precious MetalsWhere are we in the precious metals cycle? There is no shortage of questions on why gold has significantly underperformed during such an ideal macro setting. Let’s start by looking at the usual fundamental trends of this industry as part of prior historical cycles. Gold and silver stocks have never peaked at historically undervalued levels. Miners are now trading at the cheapest fundamental multiples we h...
ValueWalk
It’s tempting to ride the silver rollercoaster. After-all, gold’s volatile little brother is just that – volatile. Its wilder price swings make some of the investment public believe they can profit from it more quickly. However, it’s important to remember and take note of the fact that silver (or gold and miners for that matter) should not be judged on its own when making a purchasing decision. It’s a bit more complicated and other factors come into play, such as silver’s relative strength. Q3 2020 hedge fund letters, conferences and more Measuring Silver's Relative StrengthOne must track the ...
ValueWalk
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