In DiRienzo’s view, the market has established substantially higher floors because silver is increasingly being valued for both its industrial utility and its investment potential.
The January 1973 Dow nominal all-time high was the peak of the cycle since the post-Great Depression low. Silver peaked about 7 years after that January 1973 Dow nominal peak.
Silver is also approaching an important resistance level at $64. A break above this level would strengthen the recent move higher and bring the key $70–$72 resistance zone into focus.
The debtor has become responsible for maintaining the solvency of its creditors. That is the loop. Treasury issues liabilities. The financial system holds them as reserves, collateral, and capital. Those holdings support leverage across the economy. The government then protects the leveraged economy because its collapse would destroy demand for Treasury liabilities.
The decline from the January high of $121.64 has unfolded as either an ABC or also an ABCDE – a corrective wave. We won’t break out until we are over $70.
Given the strength of silver’s big breakout last Fall, it’s asking a bit much to expect it to dig deep into this support before it takes off higher again. It could take off very soon or even immediately.
The company announces an update on its property-wide drone-based magnetic ("MAG") survey at its 100% owned Cosuño Silver Project ("Cosuño") in Bolivia.
"The 2026 program aims to build on last year’s success, as well as follow up on new targets generated from our airborne LiDAR, magnetics and VTEM surveying conducted earlier this season."
I speak BP Silver's CEO, Tim Shearcroft, after news of extensive rock chip and channel sampling showing promising results including 935 grams g/t of Silver, 1.51 g/t Gold with Zinc at 5.5% and Lead at 3.6%. To accelerate progress and increase target coverage, BP Silver mobilized a second drill rig, enabling simultaneous operations at two distinct zones.
