Loading ...Silver has doubled since the beginning of November and is up nearly 50% in January alone with a week still left in the month. This has been a Bitcoin type move and the moves are increasing in intensity. The volume tells the story. Is it possible it could double again by March? I wonder. March is the next big Crimex delivery month. If they don’t have the goods and default, then where does it go?
I don’t think the retail public has joined the fray, and we know damn well the smart money is not going to sell until they know they can dump their positions onto Joe Sixpack. What is going to knock this train off the tracks? Or is this just a reset of the price and it gets to a certain level and just stays in a range.
I remember watching Bitcoin go from $100 to $1000, and then back to $150 or so. I couldn’t pull the trigger on even 10 Bitcoins. The thing is, I don’t see silver getting to $200 and then dropping back to $50. Supply and demand are going to prevent that. The miners should work to prevent that as well by easing production if they see prices start to fall.
With gold at $6K and the GSR at 30-1. We are at $200 silver. That seems totally reasonable to me.
Anyone care to opine? We are uncharted territory IMHO.