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As I have mentioned in several articles, when a stock or commodity price BREAKS above a certain key technical level, it goes on professional traders’ radar. Thus, a BREAKOUT is a motivation for traders to jump aboard and ride the price higher to the next level… which is $21. On July 8th, silver closed at $19.16
The Gold/Silver ratio is in freefall. As myself and others have been saying for weeks/months - Silver is taking over and leading now #gold #silver #preciousmetals #fintwit #GDX #HUI #GDXJ #finance #investments #stockstowatch #stocks pic.twitter.com/zAHsBofMFd— Northstar (@Northst18363337) July 13, 2020
Chris Marcus Interview: A Run On Physical Silver Started The Last Few Months? Paper Claims Are Over 500x Metal
The silver market appears ready to blow its top, much like a pressure cooker whose relief valve stopped functioning even as the heat and pressure continued to build. The gold market is also likely to overheat, but at least in gold, its relief valve - the price of gold - appears to be functioning somewhat and has bled off much of the pressure. After all, the price of gold is up substantially on a year-to-date basis and is not that far from all-time highs. While gold looks poised for further gains, perhaps substantial, its price relief valve has allowed much pressure to be released.
Decisive.Gold, silver and miners are all breaking out.Investors finally waking up. Again, 2008:Fed printed 1.2T in 4 months and silver went parabolic. They just did 2.3x that.Tremendous opportunity still ahead. pic.twitter.com/fvrKKQgy3G— Otavio (Tavi) Costa (@TaviCosta) July 8, 2020