TSXV:KS - Post Discussion
Post by
Charts1 on Oct 21, 2020 8:41am
KS .V. Silver forecast from the professional
There will be buyers on dips as long as gold trades over $1885. Silver will zoom if it trades over $25.20 today till day’s close. Brexit, US political stalemate over additional stimulus are key reason for gold and silver price to rise. There will be a technical breakout if gold and silver rise today.
Chinese demand for industrial metals is rising with passing of each month. Mine supplies for industrial metals is yet to reach pre pandemic levels. Chinese demand for industrial metals is over pre pandemic levels. Chinese demand controls the price of copper, nickel and all industrial metals. Industrial metals should rise. If copper, zinc and nickel rise till Monday then get ready for at least ten percent more rise in the short term.
Gold demand in India and gold jewelery demand in India will rise today and till Sunday. Yesterday’s price rise in gold and silver will be favorable to India’s gold demand and silver demand. People have a tendency of postponing demand when gold/silver prices fall or remain stable. Today’s price rise in gold and silver should be bullish for India gold demand and Indian silver demand. Jewelers in India will be very busy in their shops.
Kitco
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