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Gold, Silver, and Crypto Markets Seem Poised for a Massive Bounce

JP Buntinx
March 13, 2020

As the weekend dawns upon the stock markets, investors may want to explore alternatives in the coming days. Assets that are less prone to falling off a cliff yet remain easily accessible are always a smart option to explore. 

Stock Markets Have a Rough Week

This past week has shown investors all over the world how fragile traditional markets can be. Most stocks have suffered major losses, despite bouncing back briefly on numerous occasions. With the weekend now drawing near, all of these markets will be halted. 

This has always been an oddity when it comes to stock markets. They can only be traded during very specific hours, and not on the weekend either.For companies that are publicly traded – and often work over the weekend – having 24/7 exposure across the markets would be ideal. With traditional stocks, that will likely never happen , however. 

Many speculators wonder what next week will bring for these markets. In the US, platforms hit circuit breakers multiple times due to steep losses. When investors are in a panic,  they should always be able to buy and sell stocks. That is, unfortunately, not how the system works in the real world. 

Making matters more peculiar is the decision by the Federal Reserve. Earlier this week, the bank confirmed how it will inject $1.5 trillion into stocks to keep things afloat. Creating money out of thin air and then influencing publicly traded assets with it, is very peculiar. For reasons unknown, this is all perfectly legal too. 

Alternative Assets may Offer More Excitement

Similar to stocks, both gold and silver have lost some value as well. This is to be expected, as the novel coronavirus is wreaking havoc globally. These massive sell-offs are not over by any means. Especially where stocks are concerned,more bearish pressure seems very plausible when the markets open again on Monday.

For alternative assets, the weekend will be something else entirely. Precious metals and cryptocurrencies tend to move in unexpected directions. For precious metals, the losses have been relatively low, as investors are not spooked in the slightest.

Contrary to what many expected, the gold price held its own rather well. Despite dropping from $1,680 to $1,519, there is very little sense of panic. Even though the price broke through the 61.8% Fib, it remains to be seen if this is a temporary setback. For now, the overall support seems to be holding quite well.

For silver, the drop-off is becoming quite steep. Compared to its $6 price a few years ago, there is no reason to panic by any means. For those with a short-term perspective, dropping below the 11.4% Fib was not part of the bigger plan. It seems unlikely that this negative momentum will push the price even lower, but no one can really predict these markets by any means.

One market to keep an eye on is Bitcoin. It has shown signs of bouncing back despite the ongoing market sell-off. None of the momentum seems to stock, however, creating a very interesting outlook for the weekend. If a bounce is to occur, next week will undoubtedly get very interesting for all crypto assets.

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