When silver demand outstrips mining and recycling output, silver users must tap into aboveground stocks. That generally means rising prices to incentivize those holding it to give it up.
While tightness in the Indian market won’t likely impact the global price, it underscores a key dynamic in the silver market. There simply isn’t enough metal to meet demand.
I have no idea how things will unfold from here...but it's obvious that the Managed Money traders, et al. are digging in their heels and refusing to bow down to the wishes of the Big 8 shorts by selling longs, or going short by much more than the already have.
As to silver and the gold stocks indices, silver needs to break above $70 and then $75 to suggest higher prices. Only above $106 are new highs possible. Silver needs to hold above $56...
The other option is that wave 3 is extending and that only wave i of 3 ended at the 121.56 high...This would suggest that silver is heading well above the $300 level in wave iii of 3.
Coming to us live from the historic Keno Hill Silver District, with Jason Weber, the CEO and President of Silver North Resources, about the 2026 ongoing drill campaign at their 100% owned Haldane silver (and gold) project.
I speak with the CEO of BP Silver, Tim Shearcroft, to learn more about what is developing at the prospective Silver project. Phase 2 drilling underway with ~20-24 drill holes expected to follow-up on high-grade results during Phase 1 at the Pocañita Chica target, looking to confirm and expand on the recent discovery.
CEO Shearcroft: "With sixteen mapped and sampled breccia and vein structures identified within just three of our ten priority target areas, we believe we are only beginning..."
CEO Iwanaka: "The growing gold contribution, together with zinc, lead and manganese, has the potential to materially improve the economic profile of the project beyond silver alone."
