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Nov 13, 05:26 AM

Another chance to catch the bottom

Nov 11, 11:18 PM

Silver did something worth noting overnight. Gold fell 1.35%, but silver only lost 0.17% to 51.484, and the gold-silver ratio compressed from 78.27 on 11 November to 77.39. Gold is being drained by the rate story; silver found buyers. Those buyers are watching a different channel: the Nasdaq gained 1.6% overnight, and the solar, electronics and industrial demand narrative came back to life. Silver is still capped by the same rate logic as gold, but the industrial side gave it a floor. Levels: support at 51.43 (this morning's low) and 51.10 (the 10 November low, the base of this move). To the upside, 53.17 was tested overnight and rejected, so that ceiling still holds. A ratio near 77 is worth watching; when the ratio compresses, silver is usually the one standing up first. Structural projection, not investment advice, no return guarantee

Nov 11, 11:18 PM

Silver was interesting last night. Gold dropped 1.35%. Silver? Only 0.17%, closing at 51.484. The gold-silver ratio compressed from 78.27 on 11-11 down to 77.39 — gold's getting bled by rate hike expectations, while silver has buyers stepping in. And those buyers are looking at a different set of logic. Nasdaq rose 1.6% last night, and the solar, electronics, industrial demand storyline came back to life a bit. Silver gets weighed down by the same rate logic as gold, sure — but the industrial side gave it a lift. Levels. Downside: 51.43 (this morning's low), then 51.10 (the 11-10 low, bottom of this move). Upside: 53.17 — it pushed through last night but got knocked back. That hurdle wasn't cleared. And the gold-silver ratio around 77 is worth watching — when the ratio compresses, silver typically finds its footing before gold does. Structural analysis, not investment advice. Does not constitute a guarantee of returns.