silverprice
On Tuesday this week, the gold price tested $1,900 and broke past it for the first time since January. At this time last year, the gold price was around $1,737 per oz and it pushed to an all-time high of $2,048 in August. Amid all the talk of Bitcoin and cryptocurrency crashes, gold’s rise has been relatively steady. Some analysts from Metals Focus in the UK believe it has enough support to test the $2,000 this year. But why exactly is the current price of gold rising now? Where is the gold price in the USA going? Q1 2021 hedge fund letters, conferences and more Source: Bullion Exchanges Where...
ValueWalk
Last week we discussed what Reddit’s WallStreetBets were up to and where they might turn next. At first, many thought it would be the silver price because of previous discussions happening on the subforum. However, the CME Group increased its maintenance margins on Comex 5000 Silver Futures by about 18%, spiking the silver price. It fell the next day, proving that Reddit had little to nothing to do with this. Although the GameStop short squeeze seems to have blown over, retail investors continue to “hold the line.” This is certainly partly owing to Robinhood and other brokers limiting the trad...
ValueWalk
Silver is trading sideways. Time to evaluate stops and targets. When the mind is overwhelmed due to data overload or too many variables in a probable outcome, it likes to simplify. In its extreme, it resorts to intuitive responses like fight-flight. What is overwhelm? In most cases, it is an emotional response to an unsolved problem. For trading, this means a data stream evaluation that accumulates to too many questions and results in a desire for simplicity. In the case of exits, most beginning and intermediate traders resort to a support and resistance stop. But that is a very simple way to ...
ValueWalk
The 2020 gold market has flourished this year. In fact, both gold and silver are on their way to coming out on top higher in price than where they were at the start of 2020. What exactly contributed to this journey? Q3 2020 hedge fund letters, conferences and more The 2020 gold market, so far, rose about 29% from around $1,550 per oz to $1,890 today. The gold price bottomed at $1,477.30 and peaked at $2,067.15. Meanwhile, the silver market also grew: it began the year around $18, bottomed at $11.77, then peaked at $29.96 thus far. Although the gold price movement is impressive, the silver mark...
ValueWalk
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