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 bigger story is that silver has been one of the standout performers this year, and the pace of the move is forcing investors to look past the headline price...
Silver jewelry and coins will be allowable as collateral. Bullion, including bars, and financial products such as ETPs and mutual funds will remain ineligible.
Two months ago, we saw metal get shipped from the COMEX over to London to address the shortage there. But now the spread has swung back in the other direction...
The silver market is still awaiting the government Section 232 report, which would finally determine the tariff status of silver now that it’s been added as a critical mineral.
