Wow, silver resumes its climb, up almost 5% today. Gold and bonds also moving back up.
From a TA perspective, it looks like silver will soon be challenging its 2016 highs (20-21 area), and once those are taken out the new uptrend for silver will be confirmed.
The uptrend for gold was confirmed in June when it broke through its 2016,17,18 highs (~1370 area).
Considering the longer term predicament the Fed and economy is in (see last post), the tailwind for the metals should continue, and pullbacks can be considered buying opportunities (imo). Some headwinds for the metals (and bonds) could come from -
1) Trade war with China resolved
2) War with Iran receeds
3) US economy picks up
I would be buying any dips with the idea of holding gold/silver long term. The debt situation is past the point of no return, and the noose will gradually tighten on the dollar, with the Fed's policy options dwindling and eventually running out.
Not thrilled with these conclusions, but you have to be a realist. The question now is what allocation to give to gold - 10%, 20%, etc. I'll probably follow Rickards' basic recommendations.