Can Gold and Silver Start To Rally? [SPDR Gold Trust (ETF), iShares Silver Trust (ETF)]

What is important to realize is that one need not guess in which direction price will go, but, instead, be prepared for either event and follow the market once it declares its intent.

gold price weekly 9 May 2014 price

The daily provides greater detail but does not provide any definitive clue for the next directional move. The volume activity within the TR has a slight edge for buyers, but the weak effort of the last two TDs in a weak response to the wide range decline preceding, is not encouraging. Price could still rally, next week, but as developing market activity stands, price could as easily work lower.

gold price daily 9 May 2014 price

The trend is down and in an area of support. The trend carries the greater weight. There is no evidence of strength in the silver market, at this time. It is a great opportunity to accumulate more physical at incredibly low, suppressed low prices., but that is all.

silver price monthly 9 May 2014 price

Lacking anything definitive for taking a long position in futures, it is worth mentioning that the more times a support or resistance area is tested, said support or resistance is weakened, and there is always the potential for another low in silver. In some ways, it makes sense for it would wipe out and demoralize a lot of longs, even physical holders who should not even care where the temporary price of silver is.

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