Taking bets for $30/Troy ounce silver. When?

[JayDubya]

The $30 mark is roughly a 19% increase from present. I can't see that kind of move before year end.

 

[Voodoo]

19% happens in minutes these days. Just look at Gamestop. Just imagine all the long suffering we've seen. This market is wound so dang tight that we could see 19% ticks in minutes.

 

[JayDubya]

I don't think Gamestop is a good reference/example as it was a highly orchestrated effort.

In 1979/1980 there were large run-ups in silver but they too were due to extenuating circumstances.

I can't find a historical chart showing the largest 30 day moves is silver but other than Hunt brothers type activities a 19% move within 30 days is not a likely scenario.

 

[Voodoo]

There was Nothing orchestrated in Gamestop. That was a short squeeze, one that nearly imploded the whole dang market. And, just so you know, the situation there is worse than it was in 2021. Well, that's hard to say but I think that could have just been a prelude.

But yeah, these are Not Likely moves, but we have some very Unique variables right now. Ones that may not be seen again for hundreds or thousands of years.

 

[Cigarlover]

I agre 19% is nothing. I bought SLV calls at noon today thinking I would hold for a week or so and sell on any pop. At 1pm I was up 30% and sold. LOL. Turns out it was at the high of the day too so got lucky but 19% is nothing nowadays. When silver really gets going it can move shockingly fast as most probably know.

 

[Unca Walt]

Silver, before this is over is gonna be more valuable than Gold. It also hits $30 before year end in my opinion.

In a way, I agree. It will become more popular/commonly used in the area of day-to-day specie than gold, that's solid.

But... never will silver be more valuable than gold. Our civilization at all levels cannot even exist without gold. You are reading this through gold deposited cleverly on silicon and other things conductive. Your telephone works only because of gold.

Gold never oxidizes/rusts/dissolves/yada like silver. It is irreplaceable if you want to have something last -- like electronics.

 

[Voodoo]

There are FAR greater stocks of gold. Silver is disappearing. You also said it yourself that silver may be more used as money as well. So it has more monetary and more industrial uses. And stocks are less. Silver WILL be more valuable than gold. Maybe not for long but I'm fairly confident it gives gold a run for its money.

 

[pmbug]

* bump *

Funny to read back through this year old thread. I guess silver has finally and convincingly broke through $30. Will it hit $40 (or $50) by year end? It's hard to imagine that it breaks down below $30 again.

 

[Cigarlover]

Closing above 30 on April 19th 2024.

Looks like the actual date was May 17th of this year. I think I won. Everyone send me an ounce of gold.

Up over 2 bucks yesterday and no-one is talking about it. Strange. I'm going to go with May of 25 for 50.00 silver and gold will probably be around 3k by then as well.
Silver had a very long consolidation which usually leads to very strong moves. This one looks like it's just getting started.

 

[Fatrat]

So nice to see silver up till you realize that the reality is the dollar is collapsing...

 

[CiscoKid]

So nice to see silver up till you realize that the reality is the dollar is collapsing...

Quite true.

 

[Goldhedge]

So where is @OldGarandDad anyway?

 

[jrog100]

Intra-day: May 3rd, 2023
Market close: May 8th, 2023

Dang, lloks like I was off about a year!

 

[Voodoo]

Looks like the actual date was May 17th of this year. I think I won. Everyone send me an ounce of gold.

Up over 2 bucks yesterday and no-one is talking about it. Strange. I'm going to go with May of 25 for 50.00 silver and gold will probably be around 3k by then as well.
Silver had a very long consolidation which usually leads to very strong moves. This one looks like it's just getting started. View attachment 14142

To be far I did say April 11th.... helps to not put in specifics. Ha.

 

[nickndfl]

So far we avoided any type of Black Monday in October. If Trump wins the election I expect a quick rotation drop like in 2016 then off to the races in all asset classes. Ladies and gentlemen place your bets.

 

[Unca Walt]

I am surprised the obligatory rocket has not appeared again.

<--

 

[pmbug]

Rockets launching over here:

the silver rocket

www.pmbug.com

 

[WinkWink]

I am surprised the obligatory rocket has not appeared again.

<--

 

[pmbug]

Should we change the thread title to $50?

Silver has struggled to keep pace with gold over the past year as the yellow metal hit multiple new record highs while its gray counterpart largely remained pinned below $30/oz, but according to one analyst, that could change in 2025, and the gold/silver ratio will start to moderate from its recent highs.
...
With its heavy use in the tech and electric vehicle sectors, steady demand coming from the production of LEDs and solar panels, and applications in the medical field due to silver’s anti-bacterial properties, Wee said industrial demand will “likely see additional demand for physically-backed ETFs, with holdings already rising from 684mn oz in May to around 741mn oz in October. On the supply side, mining output should remain constrained in 2025.”

“We thus expect prices to reach USD 36-38/oz in 2025, and advise investors to stay long the metal or use it for yield pickup opportunities,” he said. “Last week’s fall in the silver price makes it a 6.2% consolidation from the late-October high of USD 34.83.”

“Additionally, it has seen the gold-silver price ratio rise from a recent low of just under 79 to around 84. Over the next 12 months, we expect this ratio to decline to the mid-70s, which implies an outperformance versus gold,” he concluded. “We therefore advise investors to stay long on silver and/or use it for yield pickup opportunities.”

Analysts at InvestingHaven are even more bullish on the gray metal, saying, “Silver will test ATH in 2025, and set new highs between 2026 and 2027.” They gave bullish price targets of “$50 in 2025” and “$77 before 2028,” adding a “silver peak prediction north of $82 by 2030.”
...

More:

Silver eyes $50 in 2025 as industrial demand grows and gold-silver ratio narrows

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

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[Unca Walt]

Let's get serial, here... I am calling for spot silver to hit $40 in April, 2025

Who's next?