Don't ever forget...as Ted Butler kept pointing out...a short contract, is an open contract -- and MUST be closed out at some point, regardless of what the price is. A short covering rally feeds on itself, like it's doing now -- and will at some point go parabolic...unless a short seller of last resort steps in front of the market, which has been happening with increasing frequency -- and again yesterday as well.
Perhaps one of the single biggest takeaways from the stunning gold and silver rally that we’ve experienced this year is that this has all occurred before there’s been any sort of crisis.
If I travel to another country, I’ll generally need to make a currency exchange before I can go shopping. I’ll have to swap my dollars for euros if I’m in Europe, or yuan if I’m in China, or perhaps lira if I’m in Turkey. However, in ancient times, a currency exchange wasn’t necessary because the money had intrinsic value that was recognized worldwide.
The key difference is that, especially with the silver price rising, solar manufacturers have placed an even greater emphasis on thrifting, aka using less silver in each panel.
Throughout the episode, Maharrey returns to a simple conclusion. When money is untethered from anything tangible, depreciation is as certain as death and taxes.
Silver is up 92.8% so far, guaranteeing that it should have its best year since 1979. With it thrusting out to new all-time highs, the breakout suggests it could make even higher highs.
Friday November 28th is viewed as the most important day in the history of the silver market – why? – because as a result of breaking out of the bullish Ascending Triangle that has formed since mid-October, it finally made a convincing and decisive breakout from the gigantic 45-year long Cup and & Handle continuation pattern that has been forming since way back in 1980...
Silver, like gold, took it a bit under the chin this past week, given all the talk that the Fed won’t cut, then that the Fed will cut. Silver fell 1.4% but remains up 70.7% on the year.
CEO Iwanaka: "This is the largest modern drill program undertaken at the Prince Project since historical drilling in 2012 and thus far we are very encouraged by the geological indicators"
CEO McDonald: "The two holes are 95 meters apart and associated with nearby magnetic highs, which may indicate the intrusive source of the gold. More drilling will be done to assess..."
The first hole of the 2025 program extended mineralization 90 m downdip from 2024 discovery intersections. Results received from three holes at the Main Fault target. 5 additional holes to be reported.
CEO Weber: "Our primary goal for the 2025 drill program was to test the strike and depth continuity of the Main Fault target. I’m very pleased that we've been able to achieve that goal..."
