Silver to the moon?

Silver to the moon?

Volatility has ensued in precious metals markets, with trade talks continuing to be the main catalyst. As we’ve states any easing in trade tensions will lead to lower prices, but any continued uncertainty will continue to bring upward action. On the gold side of things the markets are little changed since our last update, gold has had a range of $273.42 with a low under $3,130 and a high over $3,400. Gold has been especially reactive to any trade talks/rumors with wild swings being the topic of conversation. Given the full picture, there are still wars going on, including a potential trade war, a position in Gold is not a bad thing to have. Gold at time of writing sits at $3,316 after having breached $3,300 overnight, it seems to be that the bulls are holding onto that $3,300 number thus I see pretty good support there. On the upside, there is resistance at the $3,330 and around $3,365. 

I’ve been speaking about silver in all my past updates and how there would be a catch up to gold, how the ratio was too out of whack for it to be sustainable. Silver since our last update has had a crazy wide range of $4.80, almost $5 per oz. Its traded as low as $31.64 and as high as $36.44. While there are many things in play in the silver space, the ratio going from over 106 to now sitting at 91 and dropping is what is catching my eye. Although caution should be had, as silver has had such a run that a pull back is not out of the question. All in all holding physical precious metals with everything going on is not a bad idea.