Silver will go down following gold

22 November 2022 238
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There’s a historically strong correlation between gold and silver. Gold’s correlation to major assets is shown in the chart below.


Silver will go down following gold - Photo 1

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.

This content is for informational purposes only and is not intended to be investing advice.

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