Does the fast-fading world reserve currency [the USD] look like it is collapsing? A look at the performance of the U.S. Dollar Index does not suggest that it is, weak as it is. If the fiat dollar is not in danger of imminent “collapse,” or even breaking down, then gold does not have this event as an impetus for rallying higher. [Frankly speaking,] until that changes, gold ain’t going higher, at least in the short term.

The demand for silver has grown exponentially in the past few years (record sales for American Eagle coins, record buying in India), but supply, on the other hand, keeps diminishing...Whenever there is a situation where demand rises sharply, while supply commensurately declines, it is a recipe for higher prices, and usually, much higher prices. This is true, unless one is talking about the silver market...[which] is at its lowest levels in the past three years. With talk of silver going anywhere from $150 to $500 higher, it currently struggles to hold $20. Why is this so?

The inevitable end for central bank control...is certain: the end is near, and fiat currencies are likely to implode and cause enormous financial ruin for those unprepared. It is crucial, now more than ever to be buying physical silver. Let me explain more fully and update you on just what the charts are saying today.

According to the charts, the price of silver is not ready to reverse its trend. [In fact,] the monthly chart, and the lower time frames, clearly indicate the trend as down....The probability is high (80%) that the last swing low (in June) to $18 will be exceeded.

The decline is holding near the last swing low. Will the June low hold? The odds are greater for the low not holding, based on the trend, but there is no way to determine the probability of the June low giving way, for it is possible it will not.

The dramatic rise in Bitcoin is the best reminder for all those buying and holding physical gold and silver, for whatever length of time and at whatever price, better days are assured. It is just a matter of time.

No matter what the latest “news” development is for PMs that paints a rosy picture, those in the fundamentalist camp are looking through rose-colored glasses to expect change in the near future. The charts for gold & silver continue to tell a more accurate story that belie all known fundamentals, and the charts shown here depict a market in decline with no apparent end in sight.

Fundamentals are relative, charts are absolute. They accurately reflect all that is going on, regardless of reasoning/motivation and...right now, the charts are letting us know that higher PM prices are unlikely to occur anytime soon. Barring some kind of “overnight surprise” that will shock the markets, odds favor lower prices over higher prices unless and until demand shows up in chart activity.

Some of the finest and most highly regarded minds in the world of PMs have been saying gold and silver are going higher...[but] the charts have “said” otherwise, and that has been the correct read...The fundamentals may be as bullish as can be [but] the charts are sending a different message.