Gold and Silver are getting slammed again today. While their prospects may be excellent for the long term…the short term is an entirely different story.
Trying to figure out short-term moves for trading purposes is, in our view, futile. Regardless, the short term looks weak for the time being and the only thing that will change that… is the price action itself. Short term trading for most people is a losing proposition. Longer term is a different story, especially for silver, which has strong fundamentals from a supply/demand perspective considering its’ use in electric vehicles, solar energy and more.
So, despite the short-term pain… a long-term view is most appropriate and long term investors should not get too freaked out by todays’ price action.