Silver Hits $42/oz — 45% YTD Gains —
Silver just achieved something extraordinary. On August 29th, it reached $39.97 — within three cents of $40 — marking its highest level in nearly 14 years. But Mike Maloney’s latest analysis reveals something far more significant: silver has quietly set its highest monthly and quarterly closing records in 2,500 years.
“Huge, huge news,” declares Mike, who’s been investing in silver for 22 years. “This isn’t just another rally.”
The Historic Breakout Everyone Missed
While headlines focused on the near-$40 price, Mike’s charts tell a bigger story. Silver has broken above every quarterly and monthly close from the 2011 peak. More importantly, a massive 45-year cup-and-handle pattern, forming since 1980, appears ready to launch.
“By quarterly close measures, we’re above any close from 2011. By monthly close, same story,” Mike explains. “We’ve broken out of ranges that have contained silver for generations.”
The technical setup suggests minimal resistance ahead. Mike’s analysis shows only about 2.5 months of historical trading above current levels, meaning little overhead supply to slow any advance.
Central Banks Return to Silver After 50 Years
The game-changer? Saudi Arabia just purchased silver — the first central bank to do so in half a century. Russia began this trend last year, but Saudi Arabia’s move confirms the “remonetization of silver” is real.
This shift coincides with the U.S. adding silver to its 2025 critical minerals list. Among all minerals evaluated, silver ranks highest for both energy importance and supply risk.
Meanwhile, the market is flashing warning signals. Silver briefly entered “backwardation” with spot prices ($39.31) trading above futures ($38.99) — a rare condition signaling immediate supply tightness.
The Coming Supply Shock
Here’s what most investors miss: silver is primarily a byproduct. Only 30% comes from primary silver mines — the rest comes from copper, zinc, lead, and gold mining.
“What happens in an economic slowdown?” Mike asks. “Base metal demand drops. Mines shut down. Silver supply disappears just as investment demand explodes.”
Mike has predicted this scenario since 2008: “There’s going to come a day when everyone wants silver, but nobody is mining it.”
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Why Triple Digits Are Coming
The silver market’s size reveals its explosive potential. All silver ever mined equals $2.1 trillion — less than Amazon’s $2.3 trillion market cap.
“This is insane,” Mike states. “With central banks buying and companies like Tesla securing supply, every dip now has a buyer. Silver has a floor under it.”
Combined with:
- Central bank accumulation
- Critical mineral status
- Byproduct supply vulnerability
- A tiny market relative to potential demand
Mike sees triple-digit silver as inevitable — “probably mid-triple digits.”
After 22 years of waiting since buying at $4.30, Mike’s conviction has never been stronger. “Once silver passes $50 — and it will, probably soon — it’s time to celebrate. I’ve been waiting 22 years for this.”
