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RE: Silver slump

in #silver7 years ago

You're not alone. I'm long silver, gold, natural gas and they're all down today. Last week we we were feeling pretty smart, this week maybe not so much. Short term, gold and silver volatility will come from political uncertainty (which I believe is a certainty). The anticipation from the Comey testimony helped us out last week. I should have sold, but the stock market looked weak (to me) last week and then that Friday selloff in tech looked like a good opportunity for lots of money moving to safe havens like gold. Unfortunately there's still not fear in the market. This week it's profit taking and anticipation of rate hikes that are hurting us along with a resilient tech sector. I'm still expecting a bounce in silver and gold after the anxiety of the Fed news is announced. Of course, I'm not expecting a skyrocket anytime soon but $19 would be very nice. Good luck to you! I sure hope you can hold out, we know that silver recover someday. Those leveraged etf's sure are fun when you're right, but statistically they don't give you an edge. I find if you give yourself lots of time to be right, you'll do great in the markets.