Gold set multiple records last year while silver remained well below its all-time highs. This created the impression that silver underperformed even though it was up over 20 percent. But we're starting to see some bullish sentiment for silver, even in the mainstream.
An Arizona Senate bill aims to create a state-backed transactional currency supported entirely by gold and silver, along with a state-operated bullion depository.
On the week, gold was up 1.1%, silver was weak but rebounded and closed up 0.1%...Silver needs to get over $32 and especially over $34 to think of new highs above $35.
Silver is on sale. The last time we saw a gold-silver ratio over 90-1 was early days of the pandemic lockdowns. In the modern era, the gold-silver ratio averages between 40-1 and 60-1.
For instance, in the days leading up to the inauguration, the premium for front-month silver futures surged from 56 cents per ounce to $1.12, far above the typical 14-cent range.
Chris Marcus recently interviewed Stefan Gleason, CEO of Money Metals Exchange, and JP Cortez, Exec. Director of Sound Money Defense League, discussing the gold and silver markets.
