As far as gold and silver are concerned, their price increases have outrun the fundamentals for now. That does not mean they cannot go higher at this point. They could.
Whether silver reaches $151, let alone the lofty heights of $1400, the reality is that $48 silver is still a whole lot better than the $20-25 price we were stuck with for the past decade.
Prospecting and mapping confirms Carbonate Replacement Deposit (“CRD”) potential at Veronica – similar to that found at Coeur Mining’s Silvertip Mine, located 12 km south.
Demand for silver far outpaces supply. But that didn’t stop a 6.1% decline this past week. Like gold, silver’s price rise has been dramatic and in need of a correction.
Despite their well-earned reputations as stable assets and safe havens, gold and silver have become highly volatile in recent weeks, with sharp moves in both directions.
Gold is recovering after one of its hardest drops in years. At the time of writing, prices are up $62 to about $4,126/oz, while silver has climbed $1.25 to $48.93/oz.
