Posted on 05/19/2023 2:21:09 PM PDT by nickcarraway
Silver remains below its all-time high while gold is trading near its record levels. If the gold/silver ratio drops below 78, it could give silver a sustainable bullish trend and potentially push it towards multi-year highs.
-Silver gained strong upside momentum in recent months but remains cheap compared to gold.
-Demand for precious metals is rising as traders search for safe-haven assets amid a banking crisis in the U.S.
-If gold/silver ratio settles below the 78 level, silver may gain strong upside momentum.
Unlike Gold, Silver Settled Well Below Its All-Time High Levels
Silver enjoyed strong support in recent months and moved toward the $26.00 level. While gold is close to its all-time high of $2075, which was reached back in 2020, silver stays well below its record level. Silver touched highs at $49.81 in April 2011 and has never moved close to these levels.
This year, silver has a chance to gain sustainable upside momentum as traders focus on the problems of U.S. banks and search for safe-haven assets. Gold is already trading near all-time high levels, which is bullish for silver. Meanwhile, the gold/silver ratio has settled near the strong support in the 78 – 80 range. Many traders use the gold/silver ratio as an additional indicator for their decision-making.
While the gold/silver ratio is simply a numerical indication of how many ounces of silver can be bought with one ounce of gold, it has its technical levels which serve as entry points. In case the gold/silver ratio manages to settle below the 78 level, it will have a good chance to gain strong downside momentum and move toward yearly lows at the 75 level. This scenario is bullish for silver.
Taking a look at the big picture, silver reached its all-time high at a time when the gold/silver ratio declined towards the 32 level. While this was an extreme development, it is obvious that the gold/silver ratio has plenty of room to move lower in case the right catalysts emerge. As gold gets more expensive, investors may focus on silver, which is relatively cheaper, and push it toward multi-year highs.
Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
It is a by product of other stuff. If there is a slow down in copper mining it could impact silver…but it’s a funky market.
Don’t know but I think they changed the reporting rules of a sale to a lower amount.
I thought that platinum from catalytic coverers was the new gold?
Bookmark.
The last day to redeem them for silver was June 24, 1968. They are still worth the face value of the bill. I’ve always liked silver certificate and thought they looked cool. My uncle redeemed his back in the day and they sent him a big block of dirty silver.
I bought, and I sold (2008) and I bought again. I’m not selling anymore, whatever I end up with is going to the kids when I croak. They won’t get rich, but they’ll have some nice stuff.
A couple of these, for starters-
https://www.ebay.com/itm/115721115206?mkevt=1&mkcid=1&mkrid=711-53200-19255-0&campid=5338905012&toolid=20006&customid=255_255_255&_trkparms=ispr%3D1&amdata=enc%3A1HcrCOU28SlqR3mp72ebE1A83
As others mentioned, be very cautious and suspicious of sellers. Lots of Chinese fakes being peddled. The fakes silver dollars are being sold to scammers for a buck or two, who then try to sell them for $22 to $40 each. Yep, worth $1.88 or so, and nets a profit up to 20 times that for the scammers.
First ones were detected because of missing notches on the rim and being magnetic. Counterfeiters then fixed that, but coins are still underweight. Newer fakes are very similar in weight, non-magnetic, and with a thin coating of silver look real. You need an x-ray detector to confirm whether it is silver or copper interior.
Funny....I just posted to some traders...that I thought Silver could double.
Silver mining stocks more sound.
a good way to buy silver without as much worry of getting ripped off, is to buy bags of so-called “junk” silver, that is, U.S. silver coins no longer in circulation that have no collector value ... one bag is equal to $1000.00 face value of the coins in the bag, there are also half bags and quarter bags ... these bags are heavily traded and have a repetitively thin price differential between buy and sell prices ...
the standardized silver content of U.S. coinage also has the advantage of being able to be useful in commerce should the shit totally hit the fan ...
Thanks for the advice, I usually buy from reputable online dealers,
https://www.jmbullion.com/?Wickedsource=Microsoft&Wickedid=80470620010823%7CJM%20Bullion%7Ce&msclkid=e05c10cfc81614a24d2e74a7ccd51fce&utm_source=bing&utm_medium=cpc&utm_campaign=Search%20%7C%20JM%20Bullion%20Terms%20%7C%20Brand&utm_term=JM%20Bullion&utm_content=Brand%20-%20JM%20Bullion
https://www.providentmetals.com/?msclkid=2d9acfd3130b1f0c84e0abbb16901d4f&utm_source=bing&utm_medium=cpc&utm_campaign=Search%20%7C%20Provident%20Terms%20%7C%20Brand&utm_term=provident%20metals&utm_content=Provident%20Brand%20Terms
And the US Mint.
I just posted the EBay link for the picture…
And I paid, I think it was $225 ea. for the Apollo coins. THAT was a day, they went on sale, and I couldn’t get in, had to wait for the second run…
The historical ratio is 45:1 Silver to Gold. Silver is heavily manipulated by the banks to keep it low. Try to buy silver for the spot price. It simply isn’t available in any appreciable quantity.
I wish I had bought gold and silver in the early 2000s when it was selling for $320 and $5 respectively.
>> The Chinese have made almost undetectable counterfeits.
Counterfeit US junk silver coins?
>> I like ‘junk’silver
Me too. Should I ever actually need to put it to use in a SHTF situation, it’ll be easier to use because it’ll be easier to trust. Everyone knows its look and feel.
Precious metals are not an “investment”. They are a hedge for bad times. REALLY bad times.
Just my 2c.
...and being magnetic
LOL.
Remember when Bunker Hunt lost a fortune trying to corner the silver market. My mom dug out her jars of silver dimes and sold them for a nice profit. I don't think he had any idea how much silver was squirreled away in various places until he tried to buy it all.
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