Gold and Silver Prices Falling

Gold and silver prices falling again….

Just like I wrote a short while ago gold and silver prices have retraced their temporary gains that we saw after the heavy drop a few weeks back. The drop for gold was the second biggest in over 30 years – a fall of around $200.

The drop was like we discussed probably influenced by a number of factors and accelerated by some major sell orders. In any case, I would argue that the fall was long overdue. Gold and silver prices have had a fantastic 12 year bull market. It’s only natural for the prices to take a break.

In the graph below the rally after the major drop in gold prices is evident…as well as the retrace.


The same situation is evident for silver in the graph below, although is better illustrated in the graph for gold.


So what can we expect going forward? Well, the gold and silver prices haven’t been very correlated to the USD, although that has strengthened recently. In my mind it has more to do with the general trend being negative for gold and silver.

I believe there is a higher likelihood for prices to continue to fall, rather than the other way around. Still, I would not wait for a perfect set up to buy physical gold bullion and physical silver bullion. Given how steep the premiums become after the drop…and how quickly supply’s sold out it would be foolish to try to time your optimal entry point.

Start accumulating physical gold bullion and physical silver bullion now in small amounts. If the prices should go up, then great, you will have bought in at very attractive prices. If the prices should continue to fall you will ensure that you could lower your average cost of purchase without having to worry about actually getting allocated.

At some point the paper prices and the physical prices for gold and silver will dislodge completely. When that happens, you don’t want to be in a position to have to buy, because then it will be too late.


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