It looks like the silver price just won’t be stopped, earlier today surging by more than a dollar and breaching the $42 an ounce mark to “a fresh 31-year high”, a phrase that may finally be replaced with simply “a record high” in another week or two based on the 1980 high for the silver price of about $48 an ounce and its current trajectory.
As this is written, it stands almost alone in the commodities sector with gains for the day. I can’t help but share the thoughts of Mitsui Precious Metals analyst David Jollie who, last week, commented "There are good fundamental reasons supporting silver. What is difficult to know is the difference between those, and a normal investment flow, and an investment flow that is driven by the price." This blog was republished with permission from The Mess That Greenspan Made.
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