I sounded the alarm one week ago...
We've been burned by false hope in the silver and gold market for many years now. It's hard to be positive. Not many people are talking about precious metals, but the chart is creeping upward and looks bullish on multiple time frames. Trillions are being printed from thin air, with no end in sight, and fear about the economy is huge. All the conditions are right - there could be a precious metals breakout coming, and these prices might become a distant memory once that happens. It feels a LOT like 2009, and as somebody who was paying attention back then, I feel I have to speak up.
What looked inevitable to me has indeed played out, and precious metals are back in the headlines today.
Gold has done well lately, but today was silver's moment to shine, one that has been coming for years. Gold hit bottom back at Christmas 2015 and has been climbing since then. But silver just hit bottom ($12) a few months ago - at the height of the virus scare and economic collapse!
Gold is $1844 today, and nearing its all time 2011 high. When the headlines become "gold at all time high", there may be yet another round of buying and interest. The charts are looking less phony in the past few months, more organic, and easier to predict.
It won't be straight up, and there will be a correction of some kind soon, but the new silver bull market is now confirmed. Unless the price drops back down quickly, the market will get hot very soon, and physical shortages will be widespread. The Gold:Silver ratio is still a relatively-high 82:1 - the bull market has a long way to run.
I'm pleased now that I recently chose not to convert my 10oz bar into fiat cash.
Here I am exactly 10 years ago, as silver broke above $20 USD in the summer of 2010.
The real reason silver (and gold) are going up is the economic situation in the world right now, and with trillions being created from thin air, people want something sound, something with an unbroken track record going back thousands of years, they want savings, they want privacy, and they want to be able to hold and control their money themselves.
DRutter
