Silver stackers rejoice.
- Thread starter Nink
- Start date
d01tg0d0wn
Well-Known Member
Silver to the MOOoooooOooN!
Everytime this happens however silver gets supressed so i aint holding my breath this will continue but if it does expect chaos as people realise the dollars in their pocket are worthless and they need a safe haven.
Everytime this happens however silver gets supressed so i aint holding my breath this will continue but if it does expect chaos as people realise the dollars in their pocket are worthless and they need a safe haven.
Eh I don't see it getting suppressed. We aren't dealing with the same scenario as the Hunt brothers. We exist in a different era.
The 2024 supply of silver from mining and recycling (820m OZ + 194M oz = 1.014B oz) wasn't enough to satisfy demand (1.16B oz) so holdings made up for the difference. Of the estimated pre-existing above ground silver (55B oz) only about 6-7% take the form of physical investments (bullion).
About 72% of newly supplied silver comes into play as a byproduct of targeting other ores (lead/zinc, copper, gold) with the rest coming from dedicated silver mines so unless there is more mining being done for the other ores there is unlikely to be a huge influx of newly mined silver coming into the market.
Lead/zinc prices are rather stable and there is an oversupply of both. Copper is pushing resistance levels so there is an incentive to produce more copper.
In the time of the hunt brothers, industrial demand for silver was about 40-45% of annual silver production, whereas today the industrial demand of silver is pushing 60% of annual production.
AI and all the green energy stuff equates to demand for electronics which is the industry side of silver's demand. This also explains copper pushing resistance levels roundabout the same time as silver. I'd keep paying attention to that industrial demand element before the number of folks who might consider worrying about inflation as being the driver of the price.
The 2024 supply of silver from mining and recycling (820m OZ + 194M oz = 1.014B oz) wasn't enough to satisfy demand (1.16B oz) so holdings made up for the difference. Of the estimated pre-existing above ground silver (55B oz) only about 6-7% take the form of physical investments (bullion).
About 72% of newly supplied silver comes into play as a byproduct of targeting other ores (lead/zinc, copper, gold) with the rest coming from dedicated silver mines so unless there is more mining being done for the other ores there is unlikely to be a huge influx of newly mined silver coming into the market.
Lead/zinc prices are rather stable and there is an oversupply of both. Copper is pushing resistance levels so there is an incentive to produce more copper.
In the time of the hunt brothers, industrial demand for silver was about 40-45% of annual silver production, whereas today the industrial demand of silver is pushing 60% of annual production.
AI and all the green energy stuff equates to demand for electronics which is the industry side of silver's demand. This also explains copper pushing resistance levels roundabout the same time as silver. I'd keep paying attention to that industrial demand element before the number of folks who might consider worrying about inflation as being the driver of the price.
brutana_dilewski
Exercise is for women.
Sep 2024 - Silver was trading at around $38 per oz.
Right now it's trading at $57, so it's up $19 in a single year.
All of my underwater mining stocks are coming to life like Frosty the Snowman!
Right now it's trading at $57, so it's up $19 in a single year.
All of my underwater mining stocks are coming to life like Frosty the Snowman!
Fresnillo plc?
↑View previous replies…
brutana_dilewski
Exercise is for women.
brutana_dilewski
Exercise is for women.
WHlTE_W4LKER
Baϟed Lad
I bought the majority of my physical at around $17-18 cad. Wish I woulda kept stacking harder over the years now but I got a decent amount.
brutana_dilewski
Exercise is for women.
I still think it's worth buying even now. Fiat is only going to get worse. I don't think 100 CAD is unreasonable over the next 24 months.
WHlTE_W4LKER
Baϟed Lad
It's always worth buying, but I wouldn't be blowing my wad of monopoly bucks lump summing in at ATH's expecting a double haha.
I've lost hundreds of thousands of dogshit fiat in my short life being stupid and greedy and it's not a good feeling.
I've lost hundreds of thousands of dogshit fiat in my short life being stupid and greedy and it's not a good feeling.
@WHlTE_W4LKER
It took 31 years for the latest ATH to be made and 14 years for it to be tested. I don't see much of a reason why It would reject. Especially over the long haul. less than $8.60USD away from breaking the last ATH. I wouldn't be surprised if we see $45-50 USD by year's end.
It took 31 years for the latest ATH to be made and 14 years for it to be tested. I don't see much of a reason why It would reject. Especially over the long haul. less than $8.60USD away from breaking the last ATH. I wouldn't be surprised if we see $45-50 USD by year's end.