Today, both silver and gold broke above important technical levels. The gold price hasn’t been this high since September 2011 when it peaked at $1,923 during that month. Silver finally pushed through the critical $18.50 level and closed at $19.16, according to prices on Stockcharts.com. First, let’s look at silver. …
The present market insanity reminds me of the similar mentality of Americans right before the 1929 stock market crash and the pre-1999 Tech Bubble. However, the big difference today is that technology has destroyed the ability of investors to understand the meaning of VALUE. The notion that technology makes the…
The world’s second-largest silver producer saw its mine supply fall by one-third due to lockdowns stemming from the global contagion. When the Peru Ministry of Mines released its metals production figures last month for April, the country’s domestic silver mine supply fell by a stunning 74%. Then on July 3rd,…
U.S. Energy Independence that lasted for less than one year, is over. With the collapse of the domestic oil drilling rig count, U.S. shale oil production will begin to fall off a cliff in the next 3-6 months. This should also destroy the notion of a “V-Shaped” economic recovery once…
With Mexico finally releasing its mine supply data for April, the top two silver producers saw their combined silver output decline by 53%. To give you an idea of the amount of lost silver mine supply from Mexico and Peru, it was more than all the global gold production that…
What a difference in the gold and silver prices since yesterday, eh? On the last day of trading in June, both gold and silver hit important technical levels. Gold closed at $1,800, and silver closed at $18.64. And, during early Asian trading, both metals were up nicely. However, that all…