Kitco News turned to Todd “Bubba” Horwitz for a technical trader’s opinion on buying gold and silver right now (scroll down for full interview).

SchiffGold avoids technical analysis of the metals markets, because stock and options traders are generally at odds with our long-term strategy of physical precious metals bullion. However, most technical traders also buy into the economic narrative promoted by the Federal Reserve. Horwitz does not. He appears to agree fully with Peter Schiff that the Fed won’t raise rates anytime soon:

I have never expected a rate hike for 2015. I think we’ll be lucky now if we see one in 2016. I am expecting a QE4, though, because I believe the Fed has lost their way. I believe they have no clue of what to do. I think the best news for them was China and Greece news that allowed them to continue to push the can down the road and ignore the real problem. They need to raise rates, but I don’t think they’re going to do so.”

While Horwitz believes that the United States dollars currently remains a safe haven asset for investors worried about both the domestic and global economies, he also thinks now is a terrific buying opportunity for precious metals – especially silver.

He points out the white metal has “a manufacturing quality as well as a precious metals status,” referring to the fact that more than half of silver’s demand comes from the industrial sector. We remind our readers of this regularly, and dive into the topic at length in our free report – The Powerful Case for Silver.

Video Length: 00:03:53

Highlights from the interview:

“At the end of the day, I think gold found a nice level at about $1100, and we popped up right to $1140, which is a good level if you’re a trader to say, ‘You know what, I want to take some profit here.’ I think really what you’re seeing here is a profit-taking mentality more than a getting-out-and-I’m-scared mentality. I think you’ll see more buyers step in again. If we can hold at about $1120, which I think is about where we are, I think is a great level to start buying again. I think gold itself looks terrific. I think gold is going to make its next move. If it can get through $1140, it will go to $1170.

“But again, overall, longer term on gold, I think it’s going to start to reverse the trend. It’s starting to technically look really good here. I would definitely want to be a buyer. I think this is just a little natural selling, not concerning at all to me…

“I love silver. I think it’s in a really precarious position here. I think it has a great chance to make a very big rally. I think the risk is really minimal here. I think you want to be buying silver at these levels, because for some reason they are holding it under pressure… Silver’s got a manufacturing quality as well as a precious metals status. I think silver is a terrific buy. I think it’s still well undervalued compared to the rest of the market. I think if you buy it, you put it away and hold it. I think you will be a very happy camper down the road…

“I have never expected a rate hike for 2015. I think we’ll be lucky now if we see one in 2016. I am expecting a QE4, though, because I believe the Fed has lost their way. I believe they have no clue of what to do. I think the best news for them was China and Greece news that allowed them to continue to push the can down the road and ignore the real problem. They need to raise rates, but I don’t think they’re going to do so. I think mid-2016 is the soonest, the way I see it right now.”