Gold or Silver? Which Precious Metal Has Massive Time For An Growth
Korea, Syria, Trump. Geopolitical situation is complicated and increases the demand for the save heaven assets. So what should we choose, Gold or Silver? Both are highly correlated and seem like a good idea but one can be better than another so lets look on the charts and see if we have a favourite here.When we look at the XAUXAG chart (Gold/Silver) we can see a long term symmetric triangle formation, which is a typical sideways trend. Currently the price is in the middle so we get no answers here. Chances for an upswing and a downswing are 50/50%. We have to look for a clue somewhere else. Lets analyse both charts and look for the hints there.Gold beat a very important resistance yesterday – the dynamic one connecting long-term lower highs. The second one, crucial for the long-term situation is 20 USD away and is a horizontal resistance (grey). We are still making higher highs and lows and the chances that the price will get there soon are relatively high.And we have a Silver, which also broke the down trendline connecting recent lower highs and already used that as a support. They are one point ahead of the gold but they still have to deal with the horizontal resistance, which probably will be happening today as we are testing it just now. What is more, we do have an inverted head and shoulder pattern here, which promotes an upswing.
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