Silver waiting for a catalyst to break out
Silver has been underwhelming during these times of inflation and money excess. It could be setting up for a breakout higher after its consolidated for so long since 2020 spike near 30 dollars per ounce.
Historically, high rates have hurt and dampened metals as rates pull away capital from commodities. But with the effects of higher prices and costs, will higher mining costs and demand for hard money safety lead for a breakout in precious metals in 2024 and on?
I have a bias, as Im a big fan of silver making higher highs. Its had 2 attempts at 50 only to fail and come down back to earth. But maybe a new push to 30 and 35 will awaken the metal bugs in a flight for collateral safety.
Historically, high rates have hurt and dampened metals as rates pull away capital from commodities. But with the effects of higher prices and costs, will higher mining costs and demand for hard money safety lead for a breakout in precious metals in 2024 and on?
I have a bias, as Im a big fan of silver making higher highs. Its had 2 attempts at 50 only to fail and come down back to earth. But maybe a new push to 30 and 35 will awaken the metal bugs in a flight for collateral safety.
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