Goldman Sachs Forecasts Gold & Silver to Rise 10% in 2020

silver investing chart
Written by Mike Hammer

Silver traders are moving to the long side, according to the latest COTS report. Long silver futures contracts rose by 7,352 contracts, according to last Tuesday’s report, indicating traders are looking for increasing silver prices going forward.

Lots of reasons someone might want to go long silver now – seasonality, high gold-silver ratio, holiday spirits run amok – and only time will tell how it plays out. Meanwhile, Goldman has released its latest prognostication, this time for silver price highs during 2020. From here it looks like a pretty conservative prediction if one has to make a prediction of course.  All the details are in today’s featured article.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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