Is it time to panic about silver?
After rising to as high as $121 in January, silver has now fallen to around $51. But is it really time to panic?
Last week, I said that if gram silver closed below 90 TL for the day, it could pull back to 80–85 lira. Today, gram silver is around 81 lira, and it’s really starting to test our patience.
My expectation: The 80–85 range is the first area where we could see a bounce. If it holds here, we first need to reclaim 90 TL. If it manages that, I’d expect a move up to 107, then into the 117 TL area.
We previously discussed how silver lease rates in London had surged to 39%, meaning there was a physical supply squeeze. Looking at it today, the one-month lease rate is zero.
What I’ve shared is my own outlook and plan, not investment advice.
#silverpergram #gramgold #fedrate
https://t.co/Jtf7GBk1D9
After rising to as high as $121 in January, silver has now fallen to around $51. But is it really time to panic?
Last week, I said that if gram silver closed below 90 TL for the day, it could pull back to 80–85 lira. Today, gram silver is around 81 lira, and it’s really starting to test our patience.
My expectation: The 80–85 range is the first area where we could see a bounce. If it holds here, we first need to reclaim 90 TL. If it manages that, I’d expect a move up to 107, then into the 117 TL area.
We previously discussed how silver lease rates in London had surged to 39%, meaning there was a physical supply squeeze. Looking at it today, the one-month lease rate is zero.
What I’ve shared is my own outlook and plan, not investment advice.
#silverpergram #gramgold #fedrate
https://t.co/Jtf7GBk1D9