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PPR - Precious Metals update, Pocket Pivot on SLV

Precious metals are bouncing due to a potentially recovering global economy which exerts renewed demand on silver and gold by countries such as China, then European nations, UK, and the US, since economies somewhat correlate. Meanwhile, should the US economy recover sufficiently, the Fed would slow quantitative easing, which is bad for precious metals. Thus, a tug-o-war ensues between these two issues. Since the Fed will not be slowing QE until September at the earlier, and even then, they are likely to hold off any slowing of QE because they dont want to be hasty in unsettling the fragile economy, silver and gold may enjoy a brief uptrend.

SLV is having a pocket pivot in today's trade as it firmly moves above its 50-day moving average. Knowing that SLV can be volatile and sloppy, position size accordingly.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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