The long-awaiting day has finally arrived. After five long years, silver has finally reached its previous high of $21 set back in 2016. So, now that the silver price has reached and broken through the $21 level, what’s next for investors? Before I show the charts, let me clarify the difference in silver prices shown below and on Kitco.com. Kitco.com uses the London Metal Exchange (LME) silver price quotes that are approximately 30-40 cents less than the U.S. based Chicago Mercantile Exchange (CME Group) that Investing.com (below) and Stockcharts.com uses for silver price charts.
And the silver price just hit $19.70 per ounce as I write this– a gain of 68% in just four months. This means that silver has vastly outpaced the gains in the S&P 500 stock index, and it even outpaced the gains that gold has made since the start of the pandemic. I believe there’s a very strong case to be made that both gold and silver could continue to perform very well over the next few years.
For the first time since September 2016, Silver futures just broke above $20... As the gold/silver ratio reverses from its record high spike...
Silver closed today right on an important KEY LEVEL. For the silver price to continue higher, it needs to break above this level. The last time silver reached this same price was back in early September 2019. And, if silver continues in a positive direction in early Asian trading, we may see a more substantial move higher tomorrow.
With gold up 20% year-to-date and silver breaking through the $19 barrier for the first time in almost a year, it’s time to consider what a gold and silver mania might look like. If Mike Maloney is right about what’s ahead, we’ll soon be part of a life-changing shift. Have you thought about how the wealth transfer might play out? Not like this you haven’t…
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 [...]
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