Silver Stock Investor: September 2023 Mid-month Update

• Silver Stocks leading Silver • Silver Technicals • Silver Stock Portfolio Updates Something interesting happened in silver on September 14th. While the metal’s price was down about 2% at worst that day before recovering somewhat, silver stocks were up 2%. The largest silver stock ETF traded 4.5 times its normal volume. Over the two days of September 14 and 15, silver was up about 2%, while the SIL ETF gained 5%. That looks bullish for the sector. I normally reserve my analysis of technical charts in the section called Silver Technicals, later in the issue. But what I see happening in gold stocks is something I’d like to bring to your attention here and now. Spoiler alert: I think we’re getting close to a bottom in gold stocks and, by extension, silver stocks as well. Hear me out. One super interesting indicator I watch is the Gold Miners Bullish Percent Index (BPGDM). It measures the percentage of gold stocks which are trading in a bullish technical formation. When it reaches above 80, the sector is considered very overbought, and when it’s below 30 it’s considered extremely oversold. When the index reaches into either territory, then reverses, we often have […]