Over the last 125 years, silver has formed two similar patterns. This year could be a breakout year, with a potential top around 2028 if the pattern holds true.
Silver outperformed gold and the stock market at least a decade after the major interest rate bottom. There is also a very good chance that this will be the case again.
The Sound Money Index is designed to evaluate and rank each U.S. state based on how friendly their laws and regulations are towards gold and silver. The index uses 14 different indicators to assess the extent to which states support sound money principles.
The Big 4 traders are short about 110 days of world silver production...up about 2 days from last week's report. The ‘5 through 8’ large traders are short an additional 51 days of world silver production...down 1 day from last week, for a total of about 161 days.
The Silver Institute projects silver demand will grow by 2 percent in 2024, with industrial demand posting another all-time high. This will likely lead to the fourth straight annual structural market deficit somewhere in the neighborhood of 215 million ounces.
Silver prices have finally begun playing some catchup to gold. Perhaps speculators in the futures market have finally begun paying attention to fundamentals like supply and demand.
If the market plays out as expected, we'll see another significant market shortfall this year, totaling somewhere in the neighborhood of 215 million ounces. That would rank as the second-largest market deficit in more than 20 years.
Despite the big selloff Friday, the spot price of silver had its first weekly close above $28 since 2013. It's possible the shorts and price manipulators are out of runway.
