no ine wants to talk about what’s going on in silver? One direction or another this thing is going to pop.
retail is VERY crowded on the long side in gold.... the next big move on gold will be down. no data is available for silver, but correlation is high.
If your looking to trade Silver it has to be done long term . Maybe 6 to 12 month out,put on a small position and look to add to it after it is profitable .Otherwise stay away from the daily choppness in this thin market .
I stopped trading silver. No point trading silver as silver and gold correlation is almost one to one. you need higher margin to trade silver. silver day range tends to be smaller than gold. silver volume smaller.
Silver has a catch-up potential vs. gold. The positive economic development is likewise an argument in favour of silver because it means that industrial demand is likely to become even more dynamic – which accounts for more than half of total silver demand. Given that it is entirely conceivable that demand for bars and coins will be stronger, as well as demand from ETF [exchange-traded-fund] traders, demand growth is likely to be even more pronounced.
That may be true, but to date a long gold, short silver trade would have been a profitable one. And that’s with gold dropping.
I am longing silver futures as a position trade. Bought some on Tuesday and added yesterday. I believe we have a bottom here.