Patrick Karim: Now or Never for Silver
Tom welcomes Patrick Karim back to the show to discuss his latest charts. Patrick is a proprietary capital manager and chart trader.
Patrick discusses recent gold prices and compares gold and silver to the M2 money supply. He expects all the money printing to drive the metals higher for much of the year and makes some long-term predictions. Now appears to be another excellent entry point for silver investors.
Patrick details some paradigm-shifting potential price targets for silver. His chart indicates the possible heights that silver could reach, but the timeframe is uncertain. The junior silver miners may outperform silver in the next few weeks. He says, “The TSX Venture is awakening from the ashes and correlating very well with silver.”
The US dollar has a strong correlation with the Fed Funds Rate, but eventually, rates may get a second wind and send the dollar higher. He believes the dollar’s prevailing trend will continue and that it is currently hitting resistance and will bounce lower. Anything denominated in US dollars should get an automatic boost when the dollar drops.
Sugar acting as a leading indicator for inflation, and based on this; we can expect higher inflation in the coming months.
He cautions that bitcoin is tracking as a speculative asset and has little correlation with currencies.
Time Stamp References:
0:00 – Introduction
0:35 – Recent Market Activity
1:04 – Gold Vs. M2 Money Supply
5:37 – Gold’s Fear Moment
9:00 – Silver Vs. M2 Chart
15:02 – Silver Linebreak Chart
18:57 – Silver Juniors Vs. Silver
22:24 – Silver Vs. TSX Venture
26:00 – Silver Vs. Real Rates
30:15 – DXY Vs. Fed Fund Rate
32:13 – Dollar Daily Chart
34:23 – Sugar & Inflation
37:00 – Bitcoin Vs. Fiat
41:15 – Wrap Up
Talking Points From This Episode
- Contrasting Gold & Silver with M2 Money Supply
- Future price targets for silver.
- Silver and Real Inflation Rates
- US Dollar outlook
Guest Links:
Twitter: https://twitter.com/badcharts1
Website: http://badcharts.com/
SilverChartists Signup: http://badcharts.com/sc
Youtube Channel: https://www.youtube.com/patrickkarim
Stocktwits: https://stocktwits.com/badcharts
Patrick Karim is a proprietary capital manager and chart trader since 2006. Patrick’s background in commerce, psychology and an ongoing career in systems engineering has allowed him to evaluate trading scenarios systematically.
His psychology background helps him understand the human factor: overcoming stress, which is mostly responsible for maintaining a successful career.