Silver Is On A Tear Today

It made it to over $81 tonight.

 

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It's interesting it's become a struggle between unrest and the central banks getting their thongs caught in their crotches from shorting silver for years. Let's see how it plays out.

 

It’s just not moving enough in either direction to make a difference.

 

Gold under $5k at $ 4954
Silver at $78.50
at 7:49am

 

I still haven't pulled the trigger at JM with my $50.00 coupon. I was just about ready to last night when silver went below $80.00 Until I looked at Spot and there 13 buck mark up and 10 buck shipping and said jeeze if I want to sell it I will only make a couple bucks. Was thinking of getting my grandson a grad ase he is supposed to graduate from Highschool this June. But knowing the boy it will probably be rolling around the floor boards of his Lifted pickup by aug. So I said I will wait.!!

 

back when I was tracking premiums vs spot, you'll see the companies keep their prices high when they can. They expect the buyer, based on "emotion" to buy no matter the actual price swing. So you could get a quick drop in spot, but the sale price will stay roughly the same. ie, windfall profits.

ouch ...

 

Yea I see that. And they are selling out of 26 coins as fast as they get them also. They seem to have a lot of 26 ASE but kooks and Kolas are selling out in days of getting them.

 

And it’s down today. Up slightly at night. Down in the day.

 

Me <----- was wrong. Those who called the blow-off top from $121-122 were correct. But, to be fair, very few people predicted silver would hit what it did - and the permabulls had been calling it every year for the past 15 years, so I don't know if that means much. Silver is still well above the $50 previous all-time high, so at least we have that.

 

Silver is an industrial metal. The world economic system is in turmoil with demand destruction. Couldn’t predict that in January
Pray for PEACE

 

Yeah, it's just a matter of timing. If there is demand destruction, there will eventually be money-printing to offset that and re-stimulate the economies. The problem is the Fed might be tempted to keep rates the same, but that does nothing to address the root cause - and the growing national debt still needs to be repaid, so that leads me to believe cheap money is the solution over time. Cheap money means silver go up. So, silver is still a solid long-term bet. I just bought a Walking Liberty half dollar AU today to keep me safe.

 

I'm seeing analysis this morning that says PMs are going down because of inflationary expectations from the energy shock. As summarized by Google AI:

I guess AI's guess is at least as good as mine here.

 

Gas is going up and that’s adding to inflationary fears. Because of those fears inflation is bad for precious metals. It takes money out of the hands of people to buy the metal so the price drops and the US dollar gain strength. That also is bad for the precious metals because the US dollar when it’s Stronger buys less.
If the Fed rates remain the same, that will also force it to go down a bit. If the Fed drops the rate that makes it easier for people to borrow money and that will cause it to rise. All we can do is wait and see, but it’s only the beginning of the year and it’s going to be a long year.

 

I am glad that gold is tanking, hope it goes down 50% or more. I am more interested in adding more coins, not selling ever.....
Gas, is a different animal. My truck needs gas
Of course, there is a "cure" for the Hormuz hic cup. US naval forces should seize all Iranian tankers, deprive Tehran of funds (from oil revenues) Regime cannot sustain itself. That will cause a revolution, end of regime. or they would have to open Strait to ALL shipping....

 

Down another seven cents tonight.

 

I just logged into look at silver for the first time today and looks like it went off a cliff. Mining stocks instantly crashing. Gas is $4.00 gallon here. Oils about $100-$110 a barrel. US national debt just rolled over $39 trillion. Dollar index up 0.61% today. PMs dropping like a rock. I guess industry has stopped needing silver for now. (lol) We're gonna need an expert to step in and explain this.

 

It will continue as I said four posts ago.

 

I think you meant a stronger dollar should buy *more* PM. I agree the fed rates look to be stagnant for at least the next two meetings. Neither up or down has been the forecast so that's practically going to be a non-factor either direction for the next six months.
It's amazing that the World is in such bad shape that the US dollar could ever be considered strong and gaining strength. They will probably be emboldened to print more at this rate. Doesn't seem to hurt us.

 

A stronger dollar puts pressure on inflation, therefore it drives PM’s downward. A stronger dollar means people borrow less so they spend less.

 

continuing to sink