Silver will trade at least 15x higher if it blows past its 1980 peak vs M2.
July 28 (King World News) – Jesse Colombo: I want to address the other reasons why silver has much further to rise, why January 2026 was not the end of the bull market, and why the several hundred dollar per ounce projection from the cup and handle pattern is quite realistic, by showing just how cheap silver still is across several reliable yardsticks.
The first yardstick I will use is the silver-to-U.S. M2 money supply ratio, indexed to 100, which is essentially a way of adjusting for inflation, and in my view a far more accurate one than the Consumer Price Index (CPI), which is well known for understating inflation.
Regarding the use of the M2 money supply as a form of inflation adjustment, as Nobel Prize–winning economist Milton Friedman famously stated, “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”
According to the chart below, the silver-to-M2 money supply ratio reached as high as 1,008 in 1980 and 171 in 2011, but is now just 77, which shows that silver still has tremendous upside potential if it is to match its prior peaks.
And as I’ll explain later in this report, I believe this bull market in silver will not only match but blow past its 1980 peak for multiple reasons, most importantly because our debt burden is far larger today than it was back then.
KING WORLD NEWS NOTE: If Silver Blows Past Its 1980 Peak It Will Trade At Least 15x Higher
The next chart shows the silver-to-S&P 500 ratio, which is highly relevant because precious metals and stocks have historically acted as counterweights to each other, with capital rotating between them in recurring cycles that typically last over a decade, as I explained in this report.
The silver-to-S&P 500 ratio, indexed to 100, peaked at 2,007 in 1980 and 181 in 2011, but is now just 37, which further confirms that silver has much further to run in this bull market.
This is especially true given that the S&P 500 and the broader U.S. stock market are in the largest bubble in history, as evidenced by virtually every valuation metric, including the Buffett Indicator and the Shiller P/E ratio.
$300-$500 Silver And $15,000 Gold
When the stock market bubble inevitably bursts, I see precious metals as the primary beneficiary, not Treasury bonds, the U.S. dollar, or real estate, as enormous amounts of capital flows out of the bloated stock market and into precious metals, sending them to the stratosphere. I am projecting at least $300 to $500 per ounce for silver and $15,000 per ounce for gold.
KING WORLD NEWS NOTE: Silver Price Of $300–$500 Appears Conservative Based On The Silver vs S&P Ratio
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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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