Optimists are touting that silver could eventually see new all-time highs over $50. We are in agreement, but first, we need to break above $33. We await.
While some investors feel silver has underperformed compared to gold during this bull market, Mike points out that silver’s growth in percentage terms has mirrored gold’s rise.
Near the end of the phase for gold, you'll get a ballistic move in silver. It may reach $40, and $37 is almost a lock. $40 is very likely, and there's an off-chance we might even get to $43.
VP Hernandez: "This result provides us with increased confidence that we are executing on our plan and progressing towards the upcoming resource expansion."
Silver is now close to making a similar breakout about 32 weeks after the gold breakout. By the time silver catches up with gold, there is often already good momentum in the market.
With Russia leading the charge and other countries potentially following suit, silver could break through its long-standing resistance levels, reaching $50 and possibly climbing even higher.
We continue to bang up against that resistance zone at $33, hitting a high of $33.22 but closing at $32.39. It highlights the $33 resistance zone which has held us back now since May.
