Silver Has Highest Quarterly Close Ever

Silver just made its highest quarterly close in history. This implies all-time high prices on all the shorter time frames are coming, a mere formality. What this means to investors is Silver will be over $50 soon, its just a couple bucks under it now, and that the $50 zone will likely be the new support area for years to come. Regarding miners, this weekly chart of the SIL etf (larger silver miners) should play out like like silver’s chart, suggesting the all-time high up around $80 will be visited before long. At the current rate of gains, it could be next week, but it could take longer. The important takeaway is to be long and strong the metals and miners.

Another big tell that there is much further upside, is that gold started the party like usual. Not only has gold rocketed in a most impressive bull, it has barely pulled back to catch its breath along the way. Instead, it continues making records every week with no indication of a top. If history repeats, we will first have to see gold get tired and find its new trading range, and for silver to take the lead then far surpass gold’s massive percentage gains. Considering neither metal looks close to topping, with silver just inches from new all-time highs, I don’t think $50 will be the top for the white metal. Think more like $60, $70, or even $100, and that is just for this move higher, not the final bull market highs.