Thank you to all who read and replied to my post yesterday. While I was looking for more a answer then I received, I still appreciate it.
Last night I was listening to a podcast from a precious metals forum my friend had sent me.
They were specifically talking about the last thirty days of precious metals pricing.
One of the things that they said is that there is no way that precious metals will ever be allowed to have a bull run like the stock market and cryptos.
They used the whole silver short squeeze as an example. While I don’t believe there was ever an organized attempt to try and move silver price higher. I do believe the hype of it had more of affect on the price then if they had actually tried.
First I’d like to say that I am not a financial expert and do not take what I say as advice for investing your money. This is my calculated opinion after reviewing the information.
If you look at just the 30 day charts of both gold and silver. You will see what I call a role reversal. Meaning just a month ago gold was slowly climbing higher in the $1800’s, while silver was struggling to hit and maintain the $26 target.
Yet as we move a few weeks in gold had a massive dip going from $1861 all the way down to $1785. While silver broke and maintained over the $26 and has maintained the solid momentum.
Gold is having a hard time maintaining the $1800, while silver is maintaining and gaining at the $27. Sure there was a day that both metals got crushed, but that was all metals.
See gold is the stable metal, while it goes up it’s usually not a monster jump. Even when silver more then quadrupled in price in 2011, gold was up roughly 30% not the 400+% silver was.
When silver jumps it jumps leaps and bounds. Right now the smart money sees the writing on the wall and that’s why the spot price isn’t reality right now.
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