Via 321gold
Mary Anne & Pamela Aden
It always has been. And on a value basis, it’s also a good buy. Silver has been chugging more than gold but once it pops up, it could take off like a bandit.
There are many reasons why silver will go higher and it’s just a matter of time. And as our dear friend Richard Russell points out, JP Morgan is aggressively accumulating physical silver by the hundreds of millions of ounces.
This is the largest accumulation of physical silver by a private entity in history!
Plus, it’s three times the 100 million ounces acquired by the Hunt Brothers in 1980 or by Warren Buffett in 1998.
Some of you may remember when the Hunt Brothers tried to corner the silver market at the peak in 1980 when silver soared to the $50 level. It was a wild moment. And today is even more wild.
HEADED HIGHER
JP Morgan obviously thinks silver is going up, and we do too. We think your patience today will be well rewarded in a future rise.
Alan Greenspan also believes gold will be considerably higher in the years ahead. So it’s not only central bankers who are looking ahead. Others are too.
Chart 1 shows silver close up since 2013. It has steps, like gold, as you can see. Keep an eye on these levels as they’ll tell the story.
First of all, it’s important for silver to continue holding above its seven-month support at $15.40. If it then rises and stays above both its old 2013 support and 65 week moving average at $18.50 and $18.20, it’ll start on a bullish path.
Silver could then jump up to the $22 -$24 levels, its next step. By then, it could clearly test the $30, which would be the following step.
The bottom line is, silver has great potential and it appears to be leading the other metals.
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Mary Anne & Pamela Aden
email: [email protected]
The Aden Forecast
Um, isn’t the Fed at least pretending to be planning to increase rates, soon?
Fine, I’ll make my own completely baseless prediction for PM: within 6 months of the Fed raising rates, and barring complete economic collapse, silver will be under $12/ozt and gold will be under $900/ozt.
Bullshit! I’ve been listening to this line of crap since the early 80s. IF, and that’s a BIG if, the markets are honest, gold and silver might actually go up a bit. However, the central banks and TBTF banksters won’t let that happen. I still have some Ag in the form of pre 65 US coins. Dimes, quarters and halves, they are uncirculated and what our “money” should be. Not the bi-metal shit that comes out of the US Mint nowadays.
This October could be an interesting month. Pretty much all the big boys are predicting that will be the month the fed starts to raise interest rates, it’s also the month that the IMF will decide if the Chinese Yuan will be included in the SDR.
“At least $1 trillion of global reserves will switch into Chinese assets if the International Monetary
Fund endorses the yuan as a reserve currency this year.”
Aidan Yao, senior economist at AXA Investment
The way China has been buying silver and gold? The new AIIB? Etc. Whatever happens going forward I’d rather be holding silver than fed paper.
Silver and Gold – my Mad Max insurance.
Forgot to add lead.
Chasing the silver dream since the late 1960’s, made some and lost some as my personal situation didn’t allow long term investment. Silver reminds me of aluminum, still struggling to get the same rate for Grandma’s Natty Light cans as I did I the 70’s.
Can’t eat it, can’t wipe with it, but some claim silver as an antibiotic. (Beer cased in aluminum has cured many of my ails)
Silver probably hasn’t bottomed yet, but its seems to be in the process. However, the ultimate bottom could be significantly lower than the current price. The contrary indicator would be when articles appear to explain why Silver is worth less than its comparable weight in shit, and nobody in their right mind should even consider holding it or buying more. At that point, Silver prices will be poised to shoot to the moon.