The Dollar index is topping out and I project selling until early May, consolidation through the end of June and a resumption of its established downtrend throughout the remainder of 2022.
I expect Gold to continue to grind steadily higher with an acceleration to the upside from early February through early April, consolidation through the end of May and a moderate resumption of its established uptrend throughout the remainder of 2022.
The Silver picture is bright, as well, with a steady grind higher until mid-April, consolidation through mid-June and a resumption of its established uptrend for the remainder of 2022.
Playing the Forecast
For Fahy Capital Management, major buying opportunities emerged in Alexco, Impact Silver, Coeur Mining, and Paramount Gold Nevada. We also established a long in Lucara Diamond Corp.
Caveat: Shemitah
The Shemitah Year comes to an end on September 25th, so I recommend exercising extreme caution as we pass from Elul into Tishrei, as that end often presages an Autumn of so much discontent.
