• 826 days Will The ECB Continue To Hike Rates?
  • 826 days Forbes: Aramco Remains Largest Company In The Middle East
  • 828 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,227 days Could Crypto Overtake Traditional Investment?
  • 1,232 days Americans Still Quitting Jobs At Record Pace
  • 1,234 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,237 days Is The Dollar Too Strong?
  • 1,238 days Big Tech Disappoints Investors on Earnings Calls
  • 1,238 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,240 days China Is Quietly Trying To Distance Itself From Russia
  • 1,240 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,244 days Crypto Investors Won Big In 2021
  • 1,245 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,245 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,248 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,248 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,251 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,252 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,252 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,254 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

US Dollar Set To Rally

Gold and especially silver have had a great run since August as the US Dollar gets talked down more - especially by its own regulators in the form of the Federal Reserve. Obviously nothing goes straight up and the precious metals will take a breather in this final leg of the multiyear bull market.

Various reasons can be given for that but one graph in particular should give metal bulls pause for thought. It is the weekly graph of the US Dollar Index and as you can see, the dollar has reached a major level of support on the lower trend line. Now it may keep going down and it will in due time to the next level of support at the all time low of 70.

US Dollar

That trend line is currently at 76 and the dollar briefly spent three days below this line but has now crept back above it and technicians will take this as a sign to sell some of their gold/silver positions but hold the core for the next major leg which breaks the dollar into the unknown territory of the 60s level.

As I write silver has not surprisingly sold off on this event and I anticipate a period of volatility for gold and silver in the weeks ahead. The precious metals bull market nevertheless remains in place.

 


Further analysis of precious metals can be had by going to our blog at http://goldandsilveranalyst.blogspot.com where readers can learn about more about our analysis. Comments and questions are also invited via email to silveranalysis@yahoo.co.uk.

 

Back to homepage

Leave a comment

Leave a comment