Precious metals market is extremely hot. Haven't seen this many bulls for quite some time. I'm largely on the sideline waiting for the market to choose its next move. Wouldn't be surprised to see a decent drop here. Might happen, might not.
I have been stacking silver since 1983 and it can do whatever it wants, as long it's price stays above $5 AUD an ounce.
With silver prices going up $1 every 2-3 weeks it’s no longer about how much you paid for the silver but how many ounces you got. That’s the only thing that matters now.
I think the silver market is going higher. One very positive sign is that in general, the usual silver stacker types, don't seem too excited right now, or at least as much as they should be considering the recent moves in gold and silver (gold reaching new 6+ year highs). I went to a local store yesterday and it was like a ghost town. I imagined there would be some buyers like in the old days when we had a run like this. But nothing really like those days yet. Even if silver drops for a bit that would not be bad and is natural. No market goes straight up for long. If it does, run because it will be like bitcoin at $19K or whatever it was before it crashed. Or silver at $50 in 2011, another straight up ending move.
Another big jump during current overnight trade, and quite importantly its continuing to outpace gold
If this is the thread you are at, I'll put this here @ 3.10 a.m. Melbourne time. Watch on Youtube & read the comments (if you want too).
Up 1.20 in 24hr.. such strength.. might flush out some sellers but predict ample demand will lap it up. Once we breach $30, $50 is just a matter of time. Next we will see physical shortages as even old timers like myself look to increase positions and the strong prices act as an ultimate recruitment tool to the investment class.
