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In this wrap-up, we highlight last month’s Top Five most read articles at MoneyMetals.com/news...
Jesse Colombo discusses the significant breakout in silver prices, which he believes marks the beginning of a historic bull market.
He highlights how silver surged nearly 7%, decisively closing above the critical resistance level of $32.50, accompanied by unusually high trading volume. This move not only fulfilled the criteria he had set for confirming a new phase in silver's rally but also suggests the onset of a silver squeeze due to heavy short positions.
Colombo also points to the robust fundamentals supporting silver, including industrial demand outstripping supply, leading to a structural deficit.
His analysis, which includes technical indicators like the gold-to-silver ratio and the potential for a short squeeze, paints a picture of silver poised for substantial gains, potentially reaching $50 or even higher in the near term.
Mike Maharrey warns of the declining status of the U.S. dollar as the world's reserve currency, pointing to two major threats: the weaponization of the dollar through sanctions, which has prompted countries to diversify away from dollar reserves, and the U.S.'s fiscal irresponsibility, evidenced by record budget deficits and rising national debt.
Maharrey highlights a symbolic moment where the Treasury Department seal fell during a press conference, suggesting an omen for the dollar's future.
He discusses potential economic consequences like inflation or hyperinflation if de-dollarization continues, and advises considering alternatives like precious metals to hedge against dollar devaluation.
In this article, Mike Maharrey highlights that gold has surpassed its inflation-adjusted price high set in January 1980, reaching over $2,700 per ounce, marking a significant "real" price record.
He discusses the historical context of gold prices, noting past peaks and the Federal Reserve's influence, particularly through high interest rates in the 1980s. Maharrey also points to a bullish cup and handle pattern in gold's long-term pricing, suggesting potential for further growth. Additionally, he addresses silver's performance, indicating it remains undervalued compared to gold with substantial room for price increase, supported by a similar technical pattern and market fundamentals like supply deficits.
His analysis suggests both metals, especially silver, could see significant price appreciation, positioning them as strong hedges against inflation.
Noted silver bull Peter Krauth anticipates a correction in silver and gold prices despite the bullish long-term outlook. He points to recent price movements and speculator sentiment as indicators for a potential pullback, with silver possibly revisiting the $28 level.
However, Krauth highlights positive medium to long-term fundamentals for silver, including robust demand from ETFs, Chinese industrial sectors, and increasing mainstream analyst optimism, like Citibank's bullish forecasts.
These factors suggest a strong fundamental case for silver, even as he sees contrarian signals for a near-term price correction.
Money Metals announced the opening of its state-of-the-art 37,000-square-foot vault and fulfillment facility in Eagle, Idaho, significantly larger than the U.S. Bullion Depository at Fort Knox.
Further reinforcing Money Metals' place at the top of the industry, this $28 million high-security depository offers secure precious metals storage with cutting-edge technology and armed security, serving individuals, institutions, and governments worldwide.
Containing the largest Class 3 vaults in North America, Money Metals Depository can even be expanded further, pointing to the growing demand for physical gold and silver storage in the U.S.
