Gold vs. Silver: When to Buy Precious Metals?

Summary

Silver's recent breakdown below its $64 support level suggests further downside is likely, with key support at $54 per ounce and potential for a drop to $50 or even $46. Technical analysis shows no positive RSI divergence for silver, indicating it's not yet at a buyable bottom. In contrast, gold is showing early signs of a positive RSI divergence, hinting at a potential bottom forming. The analyst plans to start accumulating gold once it breaks below $3900, with a downside target of $3500. Long-term, both metals are considered bullish due to government spending and fiat currency debasement, but gold is favored as a safer haven asset in anticipation of a potential recession, while silver's industrial demand could make it underperform.