If like me, you have been in the precious metals market long enough, perhaps you too, are beginning to feel like Phil Connors in the 1993 American fantasy comedy film Groundhog Day.
Gallows humor and derivative price discovery propaganda aside, for those of you who know that this kind of rampant fiat currency creation ultimately blows physical precious metal values higher. Now is a great moment to add to prudent bullion and precious metals positions.
This past week, on this same SD Bullion channel, I published a video looking back a the last dozen years of intraday silver price trading action on a year-by-year basis. An attempt to find the typical times during the day in which short precious metals derivative traders have their generally most considerable downside effects on ongoing spot prices for silver and gold. This week's downside price smashed on the morning hours, was like clockwork.
If you missed that video, I would embed it below.
It will be essential to see how trading goes this coming Sunday evening into early next week.
Will the precious metals rebound, or will there be further short-term downsides to come?
Not only is silver at a critical support level, so too is gold, platinum, and how much higher may the gold-silver ratio climb in the coming weeks?
A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold