Silver and gold prices keep weakening, remaining in a falling market. The current picture tells us that we could see more of a downward slope. We believe that there is no need for buyers to take long-term positions. In a falling market, it makes sense to wait for bullish signals before making early decisions.
Gold is the only commodity where physical annual demand is only a tiny fraction of total supply available and shortages of gold caused by physical demand never happen. For this reason, the price of gold is almost entirely dependent on psychology and the factors that drive psychology, such as inflation and the dollar. Despite all that, we still see analysts writing lengthy reports analyzing factors with zero predictability, such as jewelry usage and annual gold production.