Friday, September 30, 2011

Where is silver heading short-term?

Head of Weldon Financial, Greg Weldon has a global following of some of the wealthiest investors in the world including individuals, institutions and financial firms.

When asked about silver specifically, Weldon replied, “Particularly in silver, you have done a lot of work (to the downside). You have to take a really big step back and say if this is a wealth deflation that has a little bit further to go to, what levels could some of these things decline to and still be in the context of an ongoing secular bull market?
Meaning a bull market that will ultimately produce new highs when you get another round of countries debasing their currencies. Because that will happen, it’s a question of how we get there. Silver has already retraced 50% of its entire bull market going back to the year 2000. You are coming into the 5 year moving average at $26. Could it dip to $21, it could. Could gold go lower, absolutely.

You can read here the full article. 

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