Morgan predicts silver hitting $50, potentially consolidating briefly before rising further due to industrial demand, suggesting a bullish trend ahead.
The legislation creates a sales and use tax exemption for precious metal bullion. The new law defines “precious metal bullion” as coins, bars, rounds, or sheets that contain at least 35 percent gold, silver, copper, platinum, or palladium.
Since the gold-silver ratio tells us the price of gold relative to silver and vice versa, we can look at historical trends and draw conclusions about the prices of both metals.
Ian gives insight into what the large physical silver deficit might mean for the silver markets, and he discusses the high-grade Santa Ana Silver-Gold (75/25) project.
Silver investors have been disappointed with silver’s performance of late, the metal being range-bound at around $23-24 an ounce. It certainly hasn’t been tracking gold’s rally.
An allocation to gold and silver fits squarely within the objective of protecting Utah against financial risks and would logically be included in a list of safe and liquid investment options.
In any event, investors should prepared for high inflation to persist. Inflation risks may be to the upside near term as the election approaches and new stimulus schemes get rolled out.
Moriarty predicts a silver breakout following its significant price surge, driven by a shift towards hard assets amid growing concerns about the stock market's stability
Murphy states: "Now that we've seen one of the most explosive one-month rallies in silver, I will be thrilled. If we get through $26 for starters and then $30 are key."
