The Silver Breakout!

. . . of silver no one ever yet possessed so much that he was forced to cry “enough.”
—Xenophon, “On Athens”Silver is moving!  

Silver is moving!
With Thursday’s breakout silver hit a 13-year high.

A week ago we posted a piece calling silver the double-play precious metal.  And right on cue it decided to prove us right.

Fred Hickey is one of our favorite market commentators.  Fred writes a newsletter called The High-Tech Strategist.  Obviously as a tech analyst he keeps an eye on the burgeoning digital and industrial demand for silver.  But he also has a rock-solid understanding of monetary issues, so with his double-play insight, let’s turn to him.  His view on X of the silver breakout this week is short and sweet:

“Looks like we (finally) have the long-awaited breakout in silver this morning. Buckle up. Silver breakouts to the upside typically are crazy (and relentless).”

Others on X posted comments like this:

“Congratulations silver stackers! Silver sets a new 13-year high.”

Another wrote, “Silver prices are now up +24% year-to-date and trading at their highest level since 2012.  Precious metals are incredibly hot.”

Robert Kiyosaki, the Rich Dad Poor Dad author, posted, “Silver hit $35 an ounce. I believe silver is the best bargain today. I believe silver will 2X…possibly $70 this year.”

Commentator Peter Schiff posted, “Not only is silver above $35, it’s about to take out $36, trading at its highest level since Dec. 2012. This train has left the station and there’s no stopping it!”

We remind our friends and clients that silver has a long way to go.  Spot silver rose to $50 and ounce in 1980, and again in 2011 and very nearly in 2012.

Because of decades of intervening US dollar inflation, for today’s silver price to equal its 1980 peak, the price would have to rise to more than $206 an ounce. 

As of Monday morning on 6/9, silver is still settled above $36 and looking to move some more.

Learn more about the profit opportunities in silver, the double-play precious metal.