Dave Kranzler: Gold, silver could pull back following recent rally

Arcadia Economics, Released on 11/17/22

After a tough summer in the gold and silver markets, the precious metals have rallied in recent weeks. With gold up $150 since early November, and silver up almost $4 since the middle of October. Which has certainly come as welcome news to most precious metals investors, especially as inflation continues to soar, amidst some generally chaotic conditions in the financial markets. Yet markets rarely go in a straight line, either up or down, and in today’s video, analyst Dave Kranzler suggests that we could be in line for a pullback in gold and silver prices over the short term. That’s turned out to be the case so far on Thursday, where gold and silver prices are down, and in this video Dave shares what he’s expecting in the short term, and also throughout the rest of the year. So to find out more, click to watch this video now!

Dave Kranzler spent many years working in various Wall Street jobs. After business school, he primarily traded junk bonds for a large bank. Dave graduated from Oberlin College with majors in Economics and English and he also has an MBA from the University of Chicago, with a concentration in accounting and finance. Currently, he co-manages a precious metals and mining stock investment fund in Denver. He has nearly thirty years of experience in studying, researching, analyzing and investing in the financial markets. His daily articles can be found at his site, Investment Research Dynamics.

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“silver could pull back following recent rally” . . . some rally, silver finally made it above $20, went to $22 and the day before this interview it dropped $1 to $20.94. Wow, hell of a rally, 11-12 years after it made it to $50.
Today we have a real rate of 16% annual inflation, so silver sitting still year after year means it is losing value in real terms of purchasing power if you actually need to sell it to buy something. Some of us old stackers are no longer working a regular job and have medical and living expenses that require us to sell silver for dollars, so I get fed up with people talking about how silver has “rallied” — well it hasn’t if you bought a lot of it when it was in the $30 range and then kept averaging down over the last years.

Karl Graz

Unlike gold, I think silver is no longer a “monetary metal” but simply an industrial metal like copper or tin and will rise or fall based upon industrial demand. Over time, as inflation continues, it may slowly rise in price along with all the other commodities but supply and demand will probably be the major determinate of price.

I’m an older guy, too and years ago I bought some platinum (along with gold) hoping that it would be an inflation hedge. Then Volkswagen got caught fudging the numbers for it’s diesel automobiles and demand for platinum (for diesel catalytic converters) fell off a cliff. I’m still waiting for it to go back to $1,500 an ounce!

It appears that gold is now the only true “safe haven” available, unless of course, the Brain Trust down in Washington pulls another FDR, which would not surprise me. Hey… “it’s a big club”….and we ain’t in it!