Silver will go down following gold

22 November 2022 102
Load the latest quotes
Full screen

There’s a historically strong correlation between gold and silver. Gold’s correlation to major assets is shown in the chart below.


Gold’s correlation to other assets


In an earlier forecast, we suggested gold would decline after the recent rally. The yellow metal has already gone halfway towards our goal. We expect a similar situation to take place for silver prices as well.


We suggest silver to decline towards the lower limit of the local downward trend. A stop can be placed at the upper trend line.

Comments
New Popular
Send
Commenting rules

Subscribe to our newsletter and stay up to date with all the news!