Money exceeds gold
Silver bugs have proven to be resistant.
Gold is consolidating but silver may be in the middle of another breakout. Today’s rally may have marked a path higher than the bullish flag pattern on the chart.
Despite the current technical break, I am skeptical about short-term precious metals. The markets give Republicans a better chance of holding the Senate and that increases the chances of a divided Congress. With a Biden presidency, that would lead to tighter fiscal policy and unwind some of the recent gains.
Short-term, which peaks on Aug. 18 of $ 28.47.