Sprott Money, Released on 2/3/21
It’s a brand new year, and with it comes a brand new feature from Sprott Money: The Monthly Precious Metals Projections. Each month, host Craig Hemke will sit down with Chris Vermeulen of the Technical Traders to break down the key gold and silver charts you need to understand for the weeks ahead.
Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.
Known primarily by his nickname “Turd Ferguson,” Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.
Craig Hemke & Chris Vermeulen break down the key gold and silver charts you need to understand for the weeks ahead added by Herman James on
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First question: How can you have faith in charts in a blatantly, flagrantly, completely rigged market?
Second question . . . I see some of the premiums slightly dropping already. Will this trend continue to the point where premiums go back to where they were prior to the whole Robinhood debacle? If that is the case, then wouldn’t it make sense to sell at least some silver now while there are $11-$13 premiums tacked on to physical silver? Yeah, I know, it could go up, but hasn’t that been the party line for how many years now?
I need to say that the “long-term trend” has a different meaning for someone who is 70 with heart disease and cancer, then it is for someone in their 20s to 40s or maybe in their 50s in good health. For someone who started stacking when silver was in the $30 range, this long term has basically meant averaging down. I probably am somewhere close to breaking even now in nominal terms, but if you figure out what the price is in real terms — with decade of 10% inflation happening every year — then this has been a losing proposition.
In other words, it is a little difficult for an old man in poor health to get excited — in any positive sense — about the precious metals hitting new lows in the paper markets. Guess I am just an outlier in your prospective buyer population.