The 2010 breakout that carried the price of silver to $50 began in August of 2010. Will history repeat? Take a look…
August 12 (King World News) – James Turk: The end of the summer is usually a quiet time of the year, Eric, and the last couple of weeks are following normal patterns. Conditions typically change when holidays end, and people return to work – and traders, investors, and money managers return to their computer screens.
Gold has been in a trading range for four months. I see this consolidation of gold’s big advance since last year as a platform that will take gold higher to the end of the year. Silver has been doing somewhat better.
Over the last four months, the gold silver ratio fell over 10%. It dropped from 101 to 89 ounces of silver relative to gold. The trend is now pointing lower, meaning silver has been outperforming gold, which I expect will continue.
There is another bright spot. The mining shares have been getting some bids, which they should, given how undervalued they are. The XAU Index last week hit its highest price since 2011. And few people are paying attention, which is what happens early in a bull market.
You and I often talk about the big move in silver that began in August 2010. We both remember it well, but for those who missed it, I decided to dig up that year’s chart of spot silver.
KING WORLD NEWS NOTE: The Big Move In Silver From $17 To $50 Began On August 23rd Of 2010!
At the end of August 2010, silver moved higher, and did it pretty much in a straight line right to the end of that year. And it didn’t stop there.
By the end of March 2011, silver touched $50, which remains my near-term target.
Back in 2010 is when I started saying silver’s bull market begins when that price is hurdled. Everything from the January 1980 high at $50 to the moment $50 is hurdled has been base building – namely, the accumulation of physical metal by strong hands.
There is always the possibility that history will repeat, which could of course include more backing-and-filling like silver did in 2010 before heading higher. In the meantime, watch carefully for the uptrend in silver to resume.
What To Do?
King World News note: King World News has been urging all of our global readers to accumulate silver while it remains the cheapest hard asset on the planet. It also important to accumulate high-quality mining stocks as they are also set for a massive upside breakout that will see them outperform gold by a ratio of 5+/1. But silver will also massively outperform gold and physical metal is always the most solid asset as it can be held outside of the banking system.
Tsunami Of Crypto Money Will Flow Into Gold Market!
Billionaire Pierre Lassonde shares with King World News listeners around the world many of his top stock picks in this remarkable audio interview and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
To continue listening to Alasdair Macleod discuss the short squeeze that is beginning to unfold in the gold and silver markets CLICK HERE OR ON THE IMAGE BELOW.
© 2025 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.
