Silver Is Significantly Underpriced Given The Looming Supply Shortage
https://www.zerohedge.com/commodities/s ... y-shortage
The BPGDM (Bullish Percent Index for the gold sector) measures the percentage of gold stocks that are trading in a bullish technical formation.
Conditions are neither overbought nor oversold in the gold sector right now… Conditions are neutral.
The risk-reward for equities is poor due to a number of factors including elevated recession risk, stretched valuations, high interest rates and tightening liquidity and pointed to gold's safe-haven properties as a hedge against these risks.
According to a new survey from the World Gold Council, up to 24% of central banks were looking to raise gold holdings this year.
The Gold Bugs Index (HUI) has fallen 17% over the past seven weeks. The sector is now oversold.
Traders should look to buy into gold stocks on any weakness in the coming days.
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