We’re in the “blastoff” zone now for a lot of the junior miners.
Silver may be nearing $40, but Maharrey believes the price is still low relative to its true potential.
Silver is up nearly 28 percent this year. It briefly traded above $39 an ounce earlier this week.
Earlier this week, silver prices surged to just under $39 per ounce, a level not seen since 2011.
Indians are known for stockpiling gold, but they are increasingly turning to silver as the price has pushed to 14-year highs.
Based on both the technicals and the supply and demand dynamics, silver remains underpriced with significant upside.
We’ve seen this pattern before. In 1980, when silver neared $50, the United States was gripped by inflation and a loss of confidence in the dollar.
Silver will extend a rally beyond $40 an ounce in the coming months on tightening physical supplies and growing investment demand, according to Citigroup Inc., which reiterated a more cautious stance on gold.
Silver’s bull market has officially kicked off, and all systems are go. Now, I’m looking for continued follow-through on this breakout...
Despite the June rally that pushed silver from $33 to over $37 an ounce, the metal remains historically underpriced based on several metrics.
