The silver play is to try and find the top and get out. It's essential to build evidence with charts to understand when silver goes parabolic...
Patrick Karim on Palisades Gold Radio
Tom welcomes Patrick Karim back to the show to discuss his latest charts. Patrick is a proprietary capital manager and chart trader.
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Patrick discusses his recent silver targets and why it's hard to predict over the short-term. Silver is a beast, and if you're not careful, it can tear you up. You need to know when and where to take profits. It's essential to build evidence with charts, and then you hopefully will understand when it goes parabolic.
He looks at the long-term chart patterns for silver and where we are today. For him, the silver play is to try and find the top and get out. The monthly six-month moving average gives crucial information for when to enter the market. Previous patterns can help predict future possibilities with silver. By the chart, silver indicates that it could peak around $100 by 2023-2024.
Patrick discusses how gold tends to peak at the same time as real rates. He makes some predictions about where we may be heading.
Patrick lays out some thoughts for where gold may head over the next five years. He says, "Don't buck the trend just because you want to be a contrarian."
Lastly, Patrick discusses the recent breakdown in the dollar and why it looks like more trouble for the US Dollar.
Time Stamp References:0:00 - Introduction0:35 - Crazy Silver Markets4:15 - The Move Down in Gold7:40 - Silver Monthly 1970-197510:02 - Silver Monthly 1975-198010:52 - Silver Monthly 2008-201212:22 - Silver Monthly 2018-202014:33 - Real Fed Fund Rate19:10 - Gold Yearly Log23:41 - Silver Yearly Log25:10 - Gold/Silver Ratio28:45 - Sugar Chart31:10 - Copper & Silver33:10 - Bearish US Dollar
Talking Points From This Episode
Silver and when to look for an exit.Silver could reach $100 by 2023-2024.Gold vs. Real Fed Rates and potential targets.US Dollar Breakdown.