As a buyer of precious metals since early 2014 I have never seen silver above $25/Oz at spot, although my interest in metals was based on this idea alone. Until cryptocurrency entered my sights, the only protection against fiat I had was metals.
As I live in the UK I have always had a nasty 20% Tax placed on my silver purchases unless I dared to trust someone overseas to take guardianship of investment. I always knew I would have to play the long game in order to make a return on my physical silver bullion. So I would wait patiently knowing that increasing demand and dwindling supply would one day bring the rewards that all silver lovers long for.
After a 7 year downtrend (Imagine of this was BTC!!!) we may have reached the bottom. As we trade in the area of the moving average we appear to be at the markets fair value for silver. We have also been trading sideways for over a year now, indicating that we are about to move.
large institutions, while still short have been reducing their positions and going long. What could be causing this? Is the supply running out already? More likely that in fear of Fiat currency collapse and the risky uncertainty of cryptocurrency, investors are turning to the oldest form of money on earth to protect themselves in these troublesome times.
It certainly seems that silver has a bright future ahead.
