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!