How silver trades over the next week will set a significant trend for the next month. A close above the key level means silver continues to consolidate, and a close above could set up another move towards $30. Since silver reached $30 a few weeks ago, it has been consolidating, which is a typical pattern after a significant breakout.
In my newest video update, IMPORTANT SILVER MARKET UPDATE: Next Week Price Action Will Set The Trend, I explain why silver must close above this key level in order for it to remain in a bullish trend in September:
Furthermore, the precious metals dealer we sponsor on the website says that sales for silver bullion continue to remain strong as clients are buying 80% silver bullion versus 20% for gold.
I also wanted to let SRSrocco Report followers know about our newest Silver & Gold Members Posts:
You can access these new articles by becoming a Member here: MEMBERSHIP PLANS.
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Silver seems to be holding its price well, I’m sure not disappointed at current levels.
Silver coinage dried up very quickly from circulation in the later 1960s, I remember as a kid going through Coke machine change. Now, for the first time, I see silver drying up in the coin dealer circles and bullion sites. THIS has never happened before. Before March 2020, just about any amount you wanted to buy (silver eagles, silver dollars, 90% junk, bars, etc) was still available at decent prices. It’s gone literally overnight.
This tells me the coin and bullion collectors were a small crowd and silver was never in huge supply to start with once more people got interested. It’s true, for years the same old farts like me, who are still alive, were the only ones showing up a coin shows and events. There were a few new collectors in and out, but it was fun seeing what came on the market mostly from estates. We had our easy pickings.
Most likely, PM owners in the U.S. are STILL a very small crowd. NEW want-to-be’s are already shut-out unless they want to pay hugh premium. The game has changed, FINALLY!!
Don’t look now……..but here comes SILVER!
I’m big into PMs but I’m more focused on the bigger picture. I’m not overly concerned about the near term price simply because PMs are more of an insurance against disaster and if the sun is still shining in the morning, then it’s the foundation for my retirement. I’m still Dollar cost averaging until I find a better investment case. My base case is the Dollar continues to lose purchasing power over the medium term and may/probably will go third world in the longer-term. There’s very little that doesn’t have Dollar risk exposure in one form or another. The other issue I have is the pervasiveness of fraud in the financial world. Fraud that’s not punished accordingly. I don’t trust financial or governmental institutions to follow any sort of fiduciary covenants. I don’t trust them because they have a history of ripping off investors and getting away with it. When you look at the world through my lens very few investment thesis outside of precious metals makes any sense.
You put my words down exactly as my mind thinks about this subject. Well said Peter. Always enjoy your insights on these subjects.
Silver is money, a fact that can be found in any dictionary!
But many channels on YouTube and websites function like little boxes; closed environments detached from reality. This is so that people go further and further from what matters.
Fiat collapse is imminent and a chosen people,(illegal to name) stand to lose their fiat fraud and financial system.
Now is the time to tell others about it. Don’t be a Judas Iscariot, but preserve your Christian family and other families of the world.
Reference; Tell the Truth and Shame the Devil by Gerard Menuhin.
(Corona is part of this deception)