A gold “flash crash” shocked and appalled commodity traders exactly one year after gold hit an all-time high on August 6th 2020. It wasn’t an issue with gold bullion itself, but a sudden and unexpected plunge in gold paper/futures contract prices that represented the biggest two-day drop in gold (in dollar terms) since the March 2020 crash.
No matter which angle you’re looking at it from – economics, chart technicals, or a combination of both – the bull case for silver is as powerful as ever. $35 will prove to be a key level, and after the bulls break through that, the $50 resistance point from 2011 will be next in line.
by Kenneth Ameduri | Stock Market Weekly Wrap-Ups