If we break the support trend line, I fear it may free fall for no real reason other than its silver - and never seems to move logically. While I think it should be well over 3$30 given all its industrial uses and limited physical supply and mining, it seems to always ignore what I think.
Same here, unless something crazy happens I don’t see it going to $30 anytime soon.
Unless the physical market gets so short it impacts the manufacturers of electronics enough to create a need to hedge creating more pressure and physical prices so much higher than paper. Eventually the markets will reconcile and paper price will rise. But I feel like our favorite Jelly Peanut Margin firm will just option it back to down to where they want it.
From what I’ve read most of the manufacturers that use silver did massive buys last year when the price was $15. I forgot the name of the one solar panel company but they bought 100- 1,000 ounce bars then. In the article they said that was enough silver for 4-5 years of production. But who knows I feel like it’s all just one big ponzi skeem right now.