Silver Price Analysis
Silver retraced a bit, but the gains held for this week. I think silver buyers are in control for the moment. Stocks and crypto have had solid gains this week as bitcoin and spy hit highs. The $24.50 level is an area that I think a lot of people will be paying attention to as it has been a scenario of resistance multiple times, but if we can break above that level on a daily close, then I think we have a shot at the $26 level.
Silver Chart
Portfolio Update
Silver is up over 5% this week. So my current assets are valued at $2,301.61 with a total acquisition cost of $2,363.22 which means I'm getting close to my breakeven.
Asset Allocation Chart
Asset Holding by Product
Unfortunately silver is being dragged up by the gold price at the moment. If gold stops moving up silver is going to crash back down
I think that's a good assessment. I have been wondering we we make some headway on the ratio. Silver needs to outperform at some point.
In my opinion silver won’t explode again until the stock market starts it correction. It’s way over evaluated and has been for years now. Once the Dow gets under 33,000 money will start pouring into metals. It drops below 30,000 we will see $35 or higher silver.
I agree completely on that one
My issue is I'm way more invested into the market so that would be a net negative for me.
It’s going to happen at some point. The market is way overpriced
If we can break through this resistance, I think it'll be hard pressed to break $30. We may see it drop down lower in Summer.
!BBH
!DHEDGE
I'd be excited to see what premiums do at that level!
I'd imagine they'd push $5-6/oz just for generics at that point.
It was so high for so long I'm hoping they come down a bit.
I hope so too, but I'll still keep buying, albeit less than before.
I think silver is consolidating and will soon rise up as soon as pos
I think we have been trading in a range and if we can break that range we should have a good move upward.
Just wait until the stock market correction, then you will see a lot of profits!
I think a correction would help, but I don't want to see to large of a correction since that would be bad for my portfolio.
good job, You are successful man because you purchased silver.
I would like to think so.
I'm just wondering how much drop from Industrial demand is there for silver. EV demand seemed to drop like a rock according to the big 5 Automakers. Will Demand from the military and areospace industries make up for that? Someone's got to have those numbers.
I was thinking industrial demand would drive silver up, but that has not really materialized like I thought. With more auto makers getting into EV I still hope we see more demand.
Aside of personal electronics, I think more demand will come more from Power generation and Medical technology demand, most of the public cannot afford new EV prices especially here in Canada considering that record unsecured debt is skyrocketing in a high interest environment. A lot of EVs are just sitting unsold in car dealerships.
I have a Nissan Leaf EV.
!BBH
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With the look of things, it actually looks like silver will recover in price value
Good news for all those who hold and love silver
Silver is really finding it hard to go up but I believe it is gradual phase. It will bounce back