The notion that silver is just an “Industrial Metal” was utterly destroyed today as both the copper and oil prices were crushed as silver surged higher.
While analysts will continue to regurgitate that the future silver price depends on industrial demand, we can now take this analysis and throw it into the dustbin. The world is heading into a new paradigm of “Building Wealth to Protecting Wealth.” And let me tell you, you cannot protect wealth in most STOCKS, BONDS, or REAL ESTATE. Those days are over for good.
Unfortunately, 99% of investors still haven’t figured that one out yet… but they will.
Here is a chart of the copper price versus silver.
As we can see, copper is down 5% while silver is up 2%. Thus, the leading indicator of the global economy, COPPER, just put out a very BAD SIGNAL, indeed. Now, if silver was just a mere industrial commodity, why didn’t it’s price follow along with copper???
And, if that isn’t bad enough, take a look at the WTI Oil price. The West Texas Intermediate oil price was down 5% as well.
With the U.S. oil price falling $2 in one day, that just wiped out $21 million in oil revenues to the oil companies.
Today, I also posted the broad selloff in oil on my SRSrocco Report Twitter feed:
I have been forecasting for the past several months that the U.S. and global economy will continue to unravel towards the end of 2020 and into 2021. With the oil and copper price selling off significantly today, we now have our SIGNAL that ALL IS NOT WELL.
The silver market is rapidly changing, and new investors are just beginning to wake up to why it’s essential to own the shiny metal. As I have stated several times, we are only in the first stage of the coming Silver Fireworks.
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