Silver is on a historic tear. It's now safe to say that the metal began its rise in January, 2024. nearly doubling over since then and finally surpassing $44 per ounce this morning for only the third time in history. The last time this occurred was in the spring of 2011 and in January, 1980.
I don't need to hark about everything that's been going on and the fundamentals that are driving silver's price upward. That's all 'out there' already. The point I'm getting at it, silver may be about to make history and it will be all over media, likely within days as it finally surpasses $50 but get this... the record of $50 in 1980 is now worth closer to $200, according to inflation. With all the skewered job numbers coming out in the last few weeks, I think it's safe to assume the inflation numbers are skewered as well and is actually much high but for now, we'll stick with $200 as the actual number to surpass in order to set a new record.
Most people don't understand this but that's ok. From here, there may be a chance silver could ignite and quickly catch up (according to inflation) by a whopping 300% because there's a lot of cash out there but silver on the other hand could become unobtainium fairly soon as that cash goes chasing after it. You see, there is a serious silver deficit brewing. Picture this, of the last 5 years, miners have only been able to produce 4 years worth of silver. This, at a time when silver is more critical than ever as an industrial metal and there's now talk of making silver an official critical metal in the USA.
Below is a screenshot from Kitco of its chart showing the massive cup and handle formation that is extremely bullshit to many investors, including me. Here, you can see the few times silver has surpassed $44, going back 45 years. Keep in mind, this chart does not account for inflation.
Silver is the last commodity that still hasn't breached its 1980 high. I think we're very close. The gold to silver ratio is still around 85 to 1, as gold on its own has been on a fantastic tear, surpassing $3,700 as I write. This too, suggests silver is about to play 'Hey, Hey, Get Out Of My Way'.
Silver may be or IS about to make history. You read about it on PublishOx first!
Cheers mates and invest wisely!
