What's up YouTube Silver dragons here Looks like silver price is tanking down Over a dollar yesterday we're going to Talk about why that's happening and Where silver could be going from here we Saw gold price tank as well honestly I Think this is just the start I think We're gonna see some lower prices in the Near future so we're going to talk about That also stick around for the end of The video and I will show off the newest Release from the Germania mint so let's Do it Thank you so much for watching my video I do sincerely appreciate it if you want To learn more about investing in Precious metals or if you just want to Watch awesome videos about gold and Silver make sure to subscribe to my YouTube channel okay so I got gold price Pulled up over here on the left as you Can see gold dropped 49 yesterday down Over two and a half percent look at this Massive drop and basically silver Dropped at the exact same time there was A reason that both of them went down Together silver dropped even faster than Gold down over a dollar now sitting at 22.35 this was almost a five percent Drop for silver so silver moving down Much faster than gold if we just look at The percentages you can see silver moved Down almost twice as fast as gold did so Basically all of this happened when the
Unemployment data came out for January So let's take a look at the that and Then we'll talk about where precious Metals are going from here the headline Of this Kitco news article reads Gold's Massive 50 daily drop is just a speed Bump in the 2023 Outlook but be aware of More profit taking next week so this Girl Anna she writes for Kitco news She's written a lot of great articles Over the years she's saying look this is Just a speed bump right eventually we're Going to see gold and silver prices move A lot higher from where they are right Now however she is calling for more Profit taking next week which means We're probably going to see gold and Silver prices move lower from where they Are right now if we jump into the Article starts off the gold market saw Significant losses Friday as the Precious metal dropped 50 on the day Following a shockingly solid employment Report out of the U.S the U.S economy Added a staggering 517 000 jobs in January as the unemployment Rate dropped to 3.4 percent the lowest Level since 1969. this took many by surprise as Market consensus calls were looking for Just 185 000 new positions so they're calling for 185 000 we got 517 000. so obviously Employment was looking a lot better than
Anticipated which means the FED is Probably going to be able to do another Rate hike in March they just did a rate Hike a few days ago it was a 25 basis Point rate hike down here she writes Fed Chair Jerome Powell talked about Disinflation progress it is gratifying To see the disinflationary progress now Getting underway he said we can now say For the first time that the Disinflationary process has started and We see it really in Goods prices so far However Powell acknowledged that in the Service sector is yet to feel a Slowdown In inflation before Friday's employment Report the markets were looking for the FED to potentially end its hiking cycle In March but that is now changing and Gold is reacting to that so essentially The good employment numbers suggest that We're going to see another rate hike in March and if we get another rate hike This means the dollar will get stronger Stronger dollar means weaker gold and Weaker silver or lower precious metals Prices if we look at the probabilities For the next meeting in March we can see Currently the target rate is 450 to 475. There's about a 17 chance that they're Going to leave the rate where it is now And not do another rate hike but after This news look an 82.7 chance they're predicting that we Will see yet another rate hike albeit
Only a 25 basis point rate hike but Still if rates continue to go up this is Just going to lead to a stronger dollar And again weaker precious metals prices If we take a look at just one more Kitco News article that came out yesterday Jim Wyckoff is writing this one the headline Reads gold price sharply down following Strong U.S jobs data and we're not Actually going to get into this article Because a lot of the information is the Same as the last one but I wanted to Point out that a lot of the time when They talk about precious metals prices The headlines almost always have to do With gold you know gold price is down Gold prices decline and I think the Reason for that is more people follow Gold than follow silver I mean the Silver market is much smaller than the Gold market I like that Kitco news does Talk about gold and silver but when we Read these headlines you know talking About gold we kind of need to infer that They're also talking about silver not All of the time but most of the time we See gold and silver move together Especially when we see big news items Come out like what happened yesterday Silver it usually moves faster than gold So when they say you know gold price Sharply down it's like well silver price Even more sharply down right but one Thing I did want to look at in this
Article was uh Jim wyckoff's Market Rating he does it for both silver and Gold and I've talked about this in Previous videos but basically if his Rating is five or higher then he's still Bullish for that metal so when talking About gold he gives a market rating of 7.0 so he's still bullish on gold still Thinking price is going to move higher In the future for silver he gives a Rating of 6.5 so he's still bullish on Silver as well but you know I kind of Agree with Anna I think we're going to See lower prices next week we might get A little bit of a bump on Sunday night When markets open but certainly think With this great employment news coming Out you know it's like well we're not Really in this crazy recession yet we Can still do another rate hike I think That's probably what they're going to do And obviously this is kind of bad for Precious metals in the short term but Moving into the summer moving forward I Think you know gold and silver they're Going to go way higher than they are Right now so that's basically what's Going on with precious metals right now I think it's going to be really Interesting to see where prices go next Week I would say take advantage of these Lower prices for both silver and gold Build that stack buy when the price is Down be a contrarian investor and you
Know overall we are seeing lower Premiums kind of across the board so Pretty much whatever type of precious Metal you're trying to buy premiums are Lower than they were last month and the Month before so it is a great time to be Buying I definitely am buying more Silver and more gold I think you should Be stacking both right now now with the Gold silver ratio in the 80s probably a Little bit heavier on the silver don't Go crazy though because we still could See a little bit more of a dip next week So have you know a little bit of dry Powder in The Keg right a little bit of Cash on the side so you can do another Purchase if we do see another dip but Certainly now is a great time to be Buying all right as promised let's take A look at the newest release from the Germanium mint they sent me this silver Round to review it's the second in their Valkyries Series this one is called Ostara and I believe it's a special Version yes look at the gold plating on That silver round absolutely stunning it Just pops let's take a look at the COA And some of the specifications so it is 2023 49's fine yellow gold ruthenium Hologram and numbering limited to 999 Pieces so less than a thousand of these Particular other ones minted and we'll Pop it out take a closer look here first I want to check out the reverse I guess
This would be and look how black the Ruthenium is in the Middle with the gold Plating on the outside that is such a Stunning look let's take a look at what I believe is the obverse or the front of The silver round I guess and check out The rack on that buck over on the left That is gorgeous they did a great job on This one probably one of my favorites I Got number nine as you can see thank you So much germanium mint for sending this To me to review I think it's really Beautiful great addition to the series I Hope you continue on with these and love To see many more in the future so anyway What are your thoughts on silver and Gold prices going down let me know and I'll see you all in my next video silver Dragons out
