When you combine inelastic supply and inelastic demand with surges in both industrial and investment interest, PLUS the Giffen effect, you end up with an extremely bullish setup.
Obviously, this is another new all-time record high, and it’s stunning to see how quickly silver has moved from $48.60 on November 20th to over $60 less than three weeks later.
Silver prices are surging toward $60 an ounce. The white metal finally broke out to new all-time highs two months ago -- at least without adjusting for inflation.
Silver has recently emerged from a bottoming pattern that began around 2014, when it broke down below the channel. That bottoming pattern is very similar to the one in the early 2000s...
The best performing precious metal for the past week was silver, up about 3.6%. The metal has gained nearly 22% in the past month, previously hitting $50 an ounce in 1980 and 2011.
Silver jumped 3.5%, far outpacing gold and the gold stocks. Industrial demand and the tightening supply of physical silver have led to the price rise. Can it be maintained?
Lead assay results from two silver-bearing samples of massive galena in cobble-size float at the Lodge Showing have returned 76.8% lead and 9.6% lead, respectively.
Results include 1.25 metres averaging 1,261 g/t silver, 0.74 g/t gold, 0.35% lead and 0.41% zinc starting at 179.5 m, within a larger 14.4 metre intersection of 231 g/t silver...
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..."
