The silver price has dipped since December, from almost $26 per ounce to around $22 today. We reported on silver being a relative bargain at the time, and with lower spot prices and an even higher gold/silver ratio today, gold’s monetary sibling is looking like an even more attractive buy than it was late last year.
This week, gold and silver went their separate ways, with gold rising and silver falling. In European trade this morning, gold was $1985, up $4 from last Friday’s close, while silver was 22.81, down 21 cents. Gold is edging higher, while silver edges lower.
A commenter on the SchiffGold Facebook page recently asserted that silver coins are “junk.” Why? Because as he put it, “silver is not rare,” and, “The silver/gold ratio investment premise is obsolete in this industrial, computerized and AI world.”
What should we make of these assertions?
Silver is significantly undervalued right now. One analyst called the current price in the $22 an ounce range “inexcusably low.”
But many analysts are bullish on silver in the medium term with projections of prices climbing to $50 to $100 an ounce over the next two to five years.
The question is when will we finally start to see this correction?
Given the current macroeconomic environment and the supply and demand dynamics, silver is significantly undervalued at $24 to $25 an ounce.
This week was the calm before the storm that will begin next week with the August CPI data and continue with the September FOMC meeting the following week. Friday Gold Wrap host Mike Maharrey takes advantage of the lull to cover some interesting topics including some more tough talk on inflation from Jerome Powell, the prospect of the Fed recording its first operating loss since 2023, and silver on sale.
Everybody knows that the best time to shop is during a big sale. Well, with a spot price under $19 an ounce, silver is a bargain.
For the next week, you can take advantage of the lowest silver spot price in years, and we’ll even sweeten the deal with free silver with qualifying orders.
Silver has dipped below $20 an ounce for the first time in two years. But given silver’s fundamentals, the current economic dynamics, and the trajectory of the Fed, silver appears very oversold.
For the next week, you can take advantage of the lowest silver spot price in years, and we’ll even sweeten the deal with free silver with qualifying orders.
There are three good reasons you should take advantage of silver on sale.
The silver-gold ratio hit a two-year high this week, indicating that silver is significantly undervalued compared to gold.
Gold and silver have both rallied in recent weeks, with the price of gold pushing to $1,900 an ounce. But is this rally sustainable?
Following is some technical analysis of both the gold and silver markets.
