Important Silver and Gold Bottom in December 2020?

The next seasonal bottom for both Silver and Gold comes in mid-December afterwards seasonal patterns are bullish until at least February.

The updated Silver seasonal chart shows the bullseye for a potential Silver bottom is mid-December. Seasonal patterns can be broad, a possible bottom could come from mid- December to early January.

The iShares Silver Trust – Exchange Traded Fund (SLV) daily chart shows where and when SLV could make an important bottom.

The Gold seasonal chart illustrates that Gold has a slightly different pattern than Silver.  Gold also has a potential bottom in mid -December and seasonally bullish into February.

The daily SPDR – Gold Shares Exchange Traded Fund (GLD)  chart shows that Gold is leading the decline and could reach its target price/time zone before Silver.

This post focuses only on the Time dimension.  Powerful evidence from the other three dimensions: Price, Momentum and Sentiment is developing that imply an important Silver/Gold bottom could be forming.  This evidence will be posted in the next few weeks.

Happy Thanksgiving to all in the USA and everywhere!  

Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Traders.com Advantage, Futuresmag.com, and Finance Magnates.

4 thoughts on “Important Silver and Gold Bottom in December 2020?

  1. What a great Thanksgiving present you have given us, Mark — precious info on the gold and silver markets. Other financial advisers are turkeys — let’s face it. They gobble a lot and really give little vital information. You, on the other hand, are King Midas with the Midas touch for precious metals. Thanks again!

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  2. Absolutely fascinating information! But couldn’t you make a case that July-mid October is the most bullish season for gold?

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  3. Hi David
    Yes, July to Mid October could be the most bullish season for Gold. We need to make one forecast at a time.
    As we enter December 2020 we need to see if a low risk high profit bottom develops to buy Gold and or Silver.
    Markets that have low risk high profit opportunities usually in almost all cases have a tremendous amount of evidence supporting action to either enter a long position or short position if a major top is developing.

    As of today 11/30/20 there is a moderate amount of evidence a bottom could be made to buy Gold and or Silver.
    Perhaps an important bottom formed today, if so there’s a good chance we could still take long positions at a higher level. We don’t have to buy the low tick we need to buy at a point in which risk is low vs potential profit.

    Lets watch and see what happens in the coming weeks in regards to Gold/Silver, it could develop into a fantastic buying opportunity with a tremendous amount of evidence to back up action to go long Gold/Silver.

    I will soon be posting additional Gold/Silver updates.

    Mark

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