Silver Investing Trend Analysis / Commodities / Gold & Silver 2019

By Nadeem_Walayat / June 12, 2019 / www.marketoracle.co.uk / Article Link

Commodities

The Silver price reluctantly followed the Gold higher early in the year to a late February peak of $16.20, following which it abruptly gave up all of its hard won gains for the year by making a new low early March at $15, breaking the preceding low of $15.45 and thus entering into a downtrend of a series of lower highs and lows where it remained until the Gold price came alive at the end of May 2019. Following which the Silver price busted out of its 2019 downtrend by hitting a recent high of $15.15 before succumbing to selling to bring the price down to its last close of $14.74 DOWN 5% for the year which compares against the Gold price up 4% for the year which illustrates the persistent under performance of the Silver price against the Gold price.


Firstly, my long standing approach to Silver has been one of buying (accumulating) when the Silver price is cheap to invest to capitalise on long-term Spikes, as the silver price patterns don't tend to prove very reliable in terms technical analysis i.e. prone to a lot of false signals so Silver is a difficult market to trade that only tends to really come alive towards the end of precious metals bull markets as illustrated by my analysis of May 2018 -

Silver Forecast 2018 and Beyond, Investing for the $35+ Price Spike!

In terms of a Silver market position then as is currently the case the silver market can usually be expected to be a dead market with the tendency to flat line not just for many months but even years as it tends to play second fiddle to Gold in terms of tradable swings, usually only really coming alive towards the latter stages of precious metal bull markets.

With the trend analysis in the accompanying video:

Silver 2017

My last in-depth analysis of 19th December 2018 Silver Price Trend Analysis and Forecast 2019 concluded in expectations for a volatile trend towards a spike high of $21 during 2019.

(Charts courtesy of stockcharts.com)

Silver Price Forecast Conclusion

Therefore my forecast conclusion is for the Silver price to trade in a volatile trading range with an upward bias towards a target of $21 later in 2019 which would represent a 42% gain on it's current price of $14.70. Whilst the spike to at least $35 remains as a longer term outlook.

Whilstmy most recent analysis of Gold (30th of May) concluded in expectations for the Gold price to.....The rest of this analysis was first made Patrons who support my work. Silver Investing Trend Analysis and Price Forecast 2019

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Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

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