Bob Moriarty, founder and analyst of the financial website 321gold.com, said he had never seen silver rise so much in one day, with silver rising by $1.83 and gold recording a gain of $38.40. He predicted that the bull market in the precious metals market was not over yet.
Bob mentioned: “Anyway, literally, I wrote an article two days ago where I said sentiment was suggesting that gold and silver would continue to move higher.”
"What we should be focusing on now is whether the sentiment of resource stock investors is consistent with the sentiment of gold and silver investors?" he continued.
“Right now, gold and silver are extremely bullish, while gold stock investors are not. That tells me that the rally will continue, and frankly, it could continue to go much higher.”
Silver Technical Analysis
Bruce Powers, an analyst at FXEmpire, said that silver started the week with a new trend high of $32.52 and closed strongly, in the upper third of Monday's trading range. At the high, silver was up $6.50 from the latest swing low of $26.02 since May 2.
As a safe-haven asset, silver's safe-haven properties and market trends have always been weaker than gold in the past. However, silver is now experiencing an excess premium due to panic sentiment, and its trend is much stronger than gold. It is expected to break through its historical high in the near future.
This is a huge opportunity for BTC and ETH, whose safe-haven properties are becoming more and more popular. So the question is, what do you think the current round of Bitcoin bull market will reach?
