Client Portal

Big decline in the precious metals this morning, and Silver has fallen 4%. I suspect this will bring attractive opportunities for both Gold and Silver with support found near $26-$26.50. Given that Rates are closing in on cyclical peaks, this should be positive for precious metals, and now this pullback should create an appealing risk/reward for Silver likely by mid-week. As this chart shows, a move under prior lows of the prior week is certainly not a great technical development, so i expect this will lead to a bit more selling on Tuesday into Wednesday. However, following an extended period of gains and now a quick decline to multi-day lows, this appears like it should lead to opportunity for the Precious metals bulls sometime this week. SLV0.20%  and SILJ-0.56%  along with GLD0.42%  and IAU0.49%  and Gold miners GDX0.21%  should be considered attractive to own this week on a bit more weakness.