Silver Slid and Now RecoversPosted 01/10/2020 10:08AM CT |
Mar ’20 Silver recovers today after a harsh sell-off in precious metals following the flare up and simmer down of tensions between U.S. and Iran. Looking at the charts, silver has is trading about where it was prior to all the significant volatility sparked by geopolitical events. Momentum is still in favor of bulls and It seems silver is supported strongly around 17’900. Overall, I think 2020 will be a good year for the precious metals as the U.S. presidential election is likely to be an ugly affair and create volatility favoring safe haven instruments as investors may feel inclined to step out of equities until it’s clear whether or not we will have a business friendly POTUS.