Silver Price Analysis
Silver daily chart suggests that we are peaking at around the $24.50 area, despite breaching the 20-day EMA on Thursday. After testing the YTD high of $24.54 twice during the month, Silver dropped to its 2023 low of $23.12 and, since then, has not been able to crack the $24.00. We break $24.50 and silver will be on the move!
Silver Chart
Portfolio Update
My current assets are valued at $2009.72 with a total acquisition cost of $1927.29.
Asset Allocation Chart
Asset Holding by Product
Silver prices are more consistent. It's less volatile compared to altcoins !
The prices of silver tend to be more consistent than those of other metals, such as platinum and palladium, and less affected by geopolitical events and economic conditions. I'll take it as a more conservative portion of my portfolio, but I still want to be in alts for the moon shot.
It is holding!
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Feels range bound the past few weeks.
In about a month be ready to make your largest purchase yet. Silver should come back to the $20 range. You’ll need to buy two ten ounce bars….
I'm setting up my DCA of $200/month this year.
Smart move.
Silver should rise like gold
They do like to trade together! Gold and silver often have a positive correlation, meaning that when the price of one goes up, the price of the other also tends to rise. This is because they are both considered safe-haven assets and are often bought as a hedge against inflation and economic uncertainty. Additionally, they are both used in jewelry and industrial applications, so demand for one can affect the demand for the other. However, the correlation between the two metals is not always perfect and their prices can sometimes diverge.
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Silver experiencing massive dip