SPDBRNR – Eyes Wide Open
Sports, Politics, Financial Markets, Silver & More

Silver – A Bright Future…

At some point the heavy industrial users will start hoarding, I’m guessing, as they realize it is very cheap considering how crucial it is…and get tired of higher bills every month. Seemingly that would exacerbate this bullish momentum, and this move of up 23% since mid Aug could easily hit 50%, leading to $27 prices by year end.
The industrial users are competing in the market with larger & larger investment demand…and the silver market in whole is SMALL in a world where trillion dollar deficits are the norm. So much money could start chasing silver and 59.7 oz of silver for 1 oz of gold is a joke!! It is far more valuable than that.
Silver was up 3.7% in the week ended 9/24/10, and just over 3% for week ended 10/1/10. This move is very stealthy, careful not to attract too much attention to itself (like up 8% in a week), so the masses will miss the boat. Nonetheless, as a close follower of the market for the last 2 & a half years, this move since mid-late Aug is as bullish and powerful a move as I’ve seen …there’s little volatility as the selloffs are so shallow and short lived…it mostly just hangs out at 30 year highs and slowly creeps up by the end of the day.
And to illustrate this strength, the Sept 30 quarter-end attempted takedown by the banks was a total failure! Buyers are flexing LARGE muscles.

2 Responses to “Silver – A Bright Future…”

  1. Great post – I am tracking the same stuff: http://www.joshuagamen.wordpress.com

  2. Josh…Went to your site and read a bit…great stuff, spot on and thorough. If you like sports, peruse here for links to my sports blogs. Keep writing.

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