Silver short-term trend changed after Friday's sell off of 4%. The Force Index indicator in fact turned negative.
You can see that gold and silver have printed the same performance since the beginning of the year.
Many analysts see a grim future for precious metals after Goldman Sachs' event.
Read on Zerohedge:
Net Gold Commercial Positions Surge To Multi-Month High Short Exposure
Of course, Friday's action does not change much to the sideways market that we have seen since the beginning of this year in silver and gold. However, it is interesting to note that they underperformed stocks. Should a correction of equities start they may be vulnerable, although gold could eventually be seen as a safe haven. For European investors the exchange rate of the dollar could help their performance, as the dollar should appreciate in that situation.
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