Well, we have come to the end of another year and we want to take a look back at what we have seen happen to gold and silver ETFs over the last 21 months. Gold and silver have been quite the topic among many investors this year and many traders have turned to using it as a means of investing. Gold and silver have been fairly range bound this year and seems to be moved quite a bit by the news.
Silver:
This chart below shows how the price movement has been ranging between the upper level 38 and a lower level of 26. In the end we were basically trading where we were last year at this same time. Currently silver is sitting near the 30 dollar area.
Gold:
Gold also has been trading in a similar range and is sitting where we were this last year. The range for gold has basically been between 1800 at the upper range and 1500 at the lower range. Currently we are ending the year in the mid 1,600’s.
As a word of caution, especially with gold and silver, it seems that many people have been talking about how everyone needs to buy it as a place of safety. The problem with following other peoples advice is that it is often times late. This does not mean that you should not invest in gold or silver, just that you need to make sure you are buying it at the correct times and not just whenever some says to. You need to take a look at where gold is sitting and whether or not it meets your criteria for entering into it as a trade. Just buying to be buying can be a bad thing. For example, if you were to buy gold or silver at their upper ranges you would be down this year, but if you would have bought at the lower range you would be up this year.
Take some time to review your rules for entering into gold or silver so when the opportunities arise this upcoming year you are ready to take advantage of the movements. Don’t listen to anyone except yourself when it comes to buying and