No demand to make jewels rings etc, silver needs to see 22$ and gold 1350$ to get people to buy it again, most are getting back into real estate in the US which has bottomed imho
Gold & Silver are out of favor as a sector, with investors, most all PM stocks are in a funk. People no longer feel the need for putting money in defensive stocks & are in fact moving billions of dollars into Real Estate, Bio Techs, Financials, & Natural Gass.
However if you listen to anyone in the PM business, you might as well be listening to a Mutual Fund Salesman who always said BUY, BUY, BUY, or BUY MORE after the price of the fund corrected.
In 40 years I've NEVER heard anyone in PM business come out with a SELL recommendation. I've NEVER seen a PM newsletter write recommend SELLING.
With the income tax deadline a week away, investors are selling PM stocks IF they need to raise cash for their taxes.....& the old adage of SELL in May & go AWAY, is right around the corner. This is coing to be a LONG COLD spring, summer & fall for PM investors.
There is no shin/luster of Mining Stocks at this time in comparison to other sectors in the stock market.
You're actually way off. Demand for Physical metal is at all time high. Silver Eagle sales have been record breaking the past 3 months. There is a disconnect between the Paper price and Physical price. Go ahead and stay in the dollar, you will lose everything over time. Highly suggest hard/real assets.
Sentiment: Strong Buy
Generally a lot of math goes into forecasting. What is the basis for your conclusion of 22 and 1350? Your numbers come to roughly a 25% correction in both gold and silver.
How do you reconcile that with the fact that many gold producers pay more than $1350 to get gold to market?
That cost rises nearly daily. Did you factor that into your analysis?