Alexander Trigaux, Editor, GoldSilver.com
JUL 17, 2019
I sat down today to write a thoughtful piece about how silver’s low prices will inevitably beget higher prices. And two things caught my attention. First, Jeff Clark has expertly covered that already. Second, silver is spiking for the first time in a while.
Four-month highs are in the bag, and if silver is rapidly approaching the $16 resistance point.
Is this THE breakout? Is this the beginning of the giant ramp? I can’t tell you how badly I want to say “YES, THIS IS IT.”
But I don’t know. And neither do any of the other usual suspects of silver market commentary who have consistently said silver was about to go parabolic for the past 5 years.
But, my buy yesterday at $15.40 seems fortuitous now. I didn’t make it because of tea-leaf-esque “technical” indicators. I bought because silver has been so far out of favor as an investment that I couldn’t find an investment buy more hated.
I’m a contrarian. To the extreme. And I believe that is how you make money over time.
All of the endemic reasons I believe silver is THE precious metal to buy remain. Constrained supply, almost nobody actively mining for it, Wall St. completely ignoring it… that last one maybe just until now.
But, let me repeat this, to be crystal clear: I have no idea if this is THE silver move.
Still, I’m loading the boat on silver. Mainly because it’s the single most hated asset in the world that I can find to invest in right now.
Does the current spike presage a return to highs? I have no idea. But even up 3.5% in two days? I’m kicking myself for not buying more yesterday, and I’m buying GoldSilver 1 oz Silver Bulls again today.