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.
No...counterfeit 999 fine silver rounds (Canadian Maples, US Buffalos, SA Krugerands, etc) which typically sell for a premium. The latest Chinese fakes are very hard to detect.
Jm bullion doesn’t even have an physical address on their website
I thought the new gold was platinum.
Or maybe palladium.
I bought 16 100 ounce bars primarily as a tangible asset in case for an Armageddon scenario about 15 years ago at a bit over $10.00/oz. It sat at the $15-$18 mark for quite awhile but has been going up recently to a close of 24.02 today.
I bought $15k in gold eagles as soon as I saw Bush Jr was heading to war with Iraq. This was months before the war and I could swear I only paid $218 an oz. But looking at the gold charts it doesn’t show it ever was that low around then. Anyway I made a quick bundle of money because gold shot up but I sold way too early. Even my coin shop lady tried to dissuade me from selling because she was sure it was headed higher. But I needed the cash for a house.
Personally I think silver should be closer to $50 today. Don’t know why it’s lagging behind the rise in other metals. Anyway the relatively small amount of silver I hold is more of an insurance policy in a shtf scenario.
I’ve bought from them more than once and they have my confidence.
Use cash
Ah. Thanks.
The problem is always gonna be how to get value for your silver...too many folks want a premium for it, even the junk.
Our coming currency is going to be backed by gold and silver. That’s when you are going to see both skyrocket. Not one minute before.
The big banks hold all the silver shorts. They totally control the price.
That’s when Dad & I bought. It’s been a fun ride! ;)
Where do I get those bags of junk silver coins? I’d like to add silver to my portfolio of lead, brass and copper.
start with:
https://www.google.com/search?q=%22junk+silver%22+price
compare prices and reputation of sellers ... direct sales from many sellers + ebay + etc.
standard junk are coins with 90% silver
kennedy halves are 40% silver from 1965-1970, priced accordingly ...
Blackrock starting to load up on silver.
SRSrocco Report
@SRSroccoReport
BlackRock Takes Big Stake In Sprott Silver PSLV ETF
While BlackRock has held its own iShares SLV ETF in the past, the most were 5.4 million shares during the Pandemic Shutdown.
Doesn’t matter if BlackRock holds onto the PSLV, the Institutional Waterfall buying is coming.
https://twitter.com/SRSroccoReport/status/1659995416887455744
Thanks for the info. Now I’ll check out my Kennedys to see which ones are 1975-1970s.
I’ve been picking up mostly nickels over the years that are 1964 and earlier as I sorted through my loose change.
well, all dimes, quarters, and halves before 1965 are 90% silver
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