After a strong move Monday in the London market during the US Labor Day holiday, silver is consolidating north of $32 this morning. A brief dip just prior to today’s COMEX open saw silver dip below $32, but strong buying immediately emerged and took the metal back nearly to it’s highs at $32.38. -
Gold has tested support at $1690 twice this morning before exploding higher to clear $1700! If gold can place two consecutive closes above the critical level, expect the metal to move quickly to $1750 and from there, rechallenge $1800.
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Well! They are doing their best to keep it below Gold below $1700 and Silver $32 and some change. Just look at the chart. Just volatile! However, great to see it move upwards!
Am I being too optimistic to think that silver will get to $35.50 by September 22nd?
The cartel are losing power! They are not capable of crushing silver below 32$ per ounce because there are more buyers. Soon the power of the supply and demand will rule silver’s price!
Others have to be waking up to this terrible game. There are tons of money sitting on the sidelines just waiting for verification that the race has started. When all that money starts piling in the metals have to rise. We also know through all the discussions there is a big shortage of available silver. The physical has to outrun the paper price soon. The banks really don’t have any legitimate money and have to be hounding Uncle B to print faster so they can continue to play hardball. In the end supply and demand will have to take over and I’m hoping that time is now.
I’m hoping that it’s higher than $35 by September 22. With a 1% increase per day it will hit $35.56 on the 12th. I want to see staggering numbers. All of the legitimate metal folks that predict price always go conservative because they don’t want to miss their number. When this market takes off we are going to see prices that we never thought would happen.
I want these metals to go many multiples and just maybe another politician will wake up and realize we need to fix the broken system and tie our currency to something other than faith in greedy people. Now that’s a big wish because there could always be another card up the sleeve but I want to hope for something positive to replace the madness that is harming everyone today. There is a part of me that is always suspicious of what the real end game truly is.
I saw an article on bullion stackers that the London Market is short on filling 2 contracts of 5-10 million ounces each. Haven’t found solid date on this but it is showing just how short physical silver is.