The $1850 support zone stopped yesterday’s $100/ounce price decline. It offers investors a great real risk versus potential reward opportunity to enter fresh positions.
There was a very large deposit into GLD yesterday, as an authorized participant added 313,382 troy ounces of gold. There was an even larger deposit into SLV, as an a.p. added an eye-watering 10,323,622 troy ounces of silver.
Whether US lawmakers can work together to pass another huge pandemic-stimulus-spending bill or not, eventually these lofty stock prices must reasonably reflect underlying corporate profitability. That means they need to mean revert far lower in the long-overdue next bear market.
