Is silver getting ready to revert to the mean…again?
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Silver has gotten ahead of the 50-day moving average as it did several weeks ago with a then reversion to the 50-day moving average before moving higher. This same pattern may be playing out again. There could be more upside before either price reverts a bit or the moving average catches up.
Gold has not gone too far ahead of the 50-day moving average though bears watching.
This past week gold was down .67%, silver was up 3.0%, and the Dow Jones Industrial Average (DJIA) was up .50%.
The FED’s favorite inflation gauge, the Core Personal Consumption Expenditures Price Index (PCE), was released on Friday. It was the September number and was delayed by the Schumer shutdown. It was up .2% for the month which was in line with expectations and the annual 2.8% rate was .1% below expectations. FED rate cut next week?
Until next time…
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