Reason ***Well I just bought December 1st. If you want to know why, read below.
We highlight long silver as a seasonal play for winter (December – February). Historically, silver shows an average return of +2.92 per cent in December, +2.87 per cent in January, and +2.34 per cent in February. During those months, silver has been positive 58 per cent, +60 per cent, and 48 per cent of the time, respectively. Strength in silver would reinforce our view that a new four-year cycle is underway as the more value oriented areas of the market, such as materials show signs of leadership.
Silver has forged a short-term low within an intermediate-term downtrend. The short-term technical profile of silver is strengthening as price momentum is improving, relative strength is trending higher versus gold, and volume is showing signs of buying pressure, all of which are early technical positives.