Silver’s all-time high of $118 will not stand for long.

The World Is Much Less Prepared This Time!
July 27 (King World News) – King World News reached out to Ole Hansen, Head of Commodity Strategy at SaxoBank, to ask him about the wild trading in the crude oil market:  One thing that is abundantly clear this time is that the world is much less prepared for another period of supply disruption, especially considering the Russian export bans, and if the Red Sea route for KSA is disrupted as well.

U.S. exports are slowing as domestic stockpiles are falling at an alarming rate. Whether the shoulder (autumn) season of demand and Chinese restraint will be enough remains a big if. The crude collapse in early Monday trading after no fresh attacks highlights just how difficult it is to trade oil from the long side as most traders believe a solution has to be found.

This week the Fed may hike rates, hoping it will bring down long end yields and thereby funding costs for commercials loans and mortgages. It’s a gamble as it may negatively impact growth, jobs and eventually demand for fuels…

Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.

Gold & Silver
Mark Lundeen:  I’m still recommending investing money into gold and silver bullion, as well as the companies that mine for them.

Let’s look at a chart for silver below, going back to 1969.  From 1969 to 2025, for fifty-six years, silver could not trade above $50 an ounce.  Following the two attempts at $50 silver seen below, silver entered into massive bear market declines.

  • a 90% bear market decline in the 1990s,
  • a 70% bear market decline from 2011 to 2020.

But all that changed last October, when for the first time ever, silver closed at over $50 an ounce, to then surge to $118 an ounce three months later, in January.

Silver’s All-Time High High Of $118 Won’t Stand For Long
Silver is currently in a 50% bear-market decline.  However, I note silver has yet to close below $50 an ounce, the red line in the chart below.  I doubt silver will ever again trade below $50 an ounce, and its current new all-time high of $118, will not stand for long.

Above is silver’s BEV chart, a fifty-seven-year history of new all-time highs in the price of silver, and negative percentage claw-backs from those new all-time highs.  Take a moment to study this chart.  Do you believe silver is going to test its lows of 2020, or worse yet, of 1993?

I don’t.  I expect silver is currently very near its lows of its present claw-back.  This is especially so when one considers that 40%, of this 53% claw-back, happened in the first six days in the decline from silver’s January 28th last all-time high (table below). 

In the following six months, silver’s current decline has seen an addition of only 13%.  Odd, very odd.  This failure for the bears to follow up on their original 40% decline in the months following January, is an indication of exhaustion on the part of the bears in the silver market.

Next is my Bear’s Eye View (BEV) chart for gold.  Since gold’s last BEV Zero on January 28th, it has sliced through its BEV -10%, -15%, -20% & -25% lines without hesitation.  But since June 10th, following the breaching of its BEV -25% line, I see a lot of hesitation going on within the black circle.  The bears must want to breach gold’s BEV -30% line, as they did with all the others above it – so, why don’t they?

Maybe they will, and then maybe they won’t.  But for gold below, and silver above, I suspect we are currently very near to the lows of their bear markets.  We may see some excitement in the precious metals in the weeks, and months to come, as the old monetary metals rebound off their lows.

Gold & Silver Prices Headed Multiples Higher
To listen to Jonathan Haycock discuss why gold and silver prices are going to rocket multiples higher CLICK HERE OR ON THE IMAGE BELOW.

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To listen to Alasdair Macleod discuss why the gold price may double in a matter of months CLICK HERE OR ON THE IMAGE BELOW.

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