iGold

From the panic low of the Coronavirus scare last March when silver bottomed at $11.30 to its inflation-induced peak at $29.82 in August, silver prices rose an incredible 163% during 2020 in less than five months. Yet as this article is going to press the day of the US inauguration, silver is trading just above $25.50 per ounce. In other words, since the August peak, silver has done nothing but fall by 15% over the last five months.

So what is ahead for silver as 2021 gets underway? Was the advance of the first half of 2020 a sign of things to come? Or is silver set to continue declining as it has done since the peak last August?

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As precious metals investors, it can sometimes be difficult to tell whether major world events are positive or negative for the prices of gold and silver.

However, a repeating pattern is now playing out in the gold market – a pattern which also appeared once before, nearly 10 years ago – which suggests that recent world events will be highly supportive for gold prices in the future.

Let us examine these world events and then turn to our expectations for gold prices in 2021 and beyond.

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Gold prices continue to correct from the new all-time high set on August 6, 2020. On that date, gold hit $2,074 per ounce – the highest cost to purchase one ounce of gold in the history of mankind. Since that point, gold has corrected some $226 or 10.9% to the recent low of $1,848 on September 28.

What is next for the price of gold? Has this been a major long-term top, or is there more upside to come?

Our analysis suggests the later – that gold is about to embark on a major new up-leg which should take it well above the recent $2,074 high.

Further, the timing of this next advance may be sooner than most people expect… perhaps as soon as weeks following the US election on November 3.

The time to prepare for this investment scenario is now.

Gold is Retesting Its Former All-Time High

It is critical that investors grasp the big picture for gold: the 5,000-year store of wealth is presently retesting its former 2011 all-time high resistance zone:

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