Not Gold But This Metal Will Save Trader During Covid-19 from buzai232's blog

Prior to the analysis, the fact that the author is a Trend Trader should be taken into account. This trend trading method is of the longest-term trading strategies which related to identifying and trading in the overall direction of market, usually until reversal occurs. Trailing stops will often be used to protect the account profits. The analysis firstly based on fundamental analysis, then specified trading positions based on technical analysis and use statistical probability to calculate the probability of price increases and risks.To get more news about WikiFX, you can visit wikifx news official website.
　　We shall start with a number of reviews of the market history and the important milestones of the metal silver to see why we all should care for this.
　　In 1973, Hunt brothers – sons of the oil billionaire Haroldson Lafayette Hunt Jr began to acquire silver market.
　　On January 18th, 1980 Silver price reached the highest level ever, nearly $50/oz, which is also the period when the Soviet Union invaded Afghanistan. Silver prices fell about $15 later that year.


In February, 1985 the Hunt brothers were charged “with manipulating and attempting to manipulate the prices of silver futures contracts and silver bullion during 1979 and 1980” by the United States Commodity Futures Trading Commission (CFTC) (the US government raised deposit rates and trading restrictions) and fined $ 134 million in compensation for a Peruvian mineral company. The Hunt brothers then declared bankruptcy. And there is also a legendary investor who has also entered this market however people only know him mostly through the stock market – no one rather than Warren Buffett.
　　Warren Buffett also invested in Silver during 1997 - 1998, he bought 130 million oz. silver, which is equivalent to 4,043 tons. It generated a pre-tax profit of more than $ 97 million for their Berkshire Hathaway Group, Buffett revealed in a letter to shareholders in 1997. Berkshire CEO described the purchase of more than 4,000 tons of silver as “back in the past” because he had also invested in the metal in the 1960s. In 1997, Buffett once again bet on silver when he predicted the shrinking reserves and the process of “issuing more money” that the central banks was proceeding will push this metals price up.
　　Subsequently in the 2008 the historic event of financial crisis with the Fed's QE bailout packages pushed silver to $49.5/oz, the highest level since 1980. And then silver had a long slide in the price until today.
　　Silver has had a 3,300-day decline chain until the time the author wrote this analysis. And silver's chances are being strengthened as the primary metal – gold has achieved an 80% recovery from its peak in 2011 ,while silver is still down 65% from its own.