The Fed may very well be willing to throw whatever inflation-fighting credibility it still has out the window in order to try to give the economy a boost.
India in February purchased a whack of silver bullion, with silver imports surging 260%. The country bought 2,295 tonnes compared to just 637t in January — a new monthly record.
Just starting this week, the Chinese government is telling its people to buy Silver instead of Gold. Silver and gold stacking is the cornerstone of their crafted and clever strategy of economic warfare.
Some analysts project India could import upward of 6,000 tons of silver this year. Strong demand for silver in solar panel production is one of the factors reportedly driving overall Indian silver demand higher.
The foundation has been constructed. Gold first had to break down the castle gate like a battering ram. Next the Silver price will force an historical short squeeze based upon a large-scale covering rally.
Despite gold and silver's significant present and historical value to Idaho, along with its mining industries, Governor Little's veto prevents the state from purchasing or holding gold and silver.
Silver is certainly gathering some upside momentum, but the timing of when it might accelerate toward new highs may depend on how the Fed’s shifting stance toward inflation plays out.
A monthly close above $26 triggers a potential measured upside target of $34, the next major resistance. There is some resistance at $28.
Silver against foreign currencies is battling resistance that dates back to 2012. A breakout puts it in a good position to move towards the all-time high.
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.
