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Market Comments – January 2019

We are now experiencing an increase in customer purchases, including many first-time buyers. This is a reversal of a two year trend. A lot of the money, we’re told, is from stock market liquidation.

Gold is flirting with $1300 an oz. and silver is near $16. At a ratio of 81 of silver to gold, silver appears ridiculously underpriced. A 30 to 1 relationship, which we haven’t seen since 2011, would put silver at $43 per oz.

That could happen if the short sellers and manipulators get out of the way and solar panel production picks up.

Gold will break out of its bear market at $1370. A number of factors could cause this to happen, but the single most influential one would be the reversal of the US dollar (See attached chart; it’s a mirror image, or better yet, an upside down view of gold).

Guessing the future timing and price range has proven to be a futile exercise, but we can see storm clouds on the horizon.

dollar chart