Today over 86, higher than it was at the depths of the '08-'09 meltdown. Silver too cheap, gold too expensive or is it that "this time it's different"?
What's the reason for this?
Gold acted as if it was going to break out to the upside very early this morning, making new weekly highs at 1292.8 just before 8am(highest price since April 16th)...............but quickly came under selling pressure that took it back down near 1280 and we've been hovering just above that since.
Now at 1282.2 in the June contract.
This time is NOT different. We are on the verge of a major financial crisis and silver is going to explode to the upside. When I say on the verge, I mean within the next 60 days.
Not sure why silver so weak, but it seems most resource stocks are in the dumper and silver is more of industrial metal. And yet with all the silver being used in solar applications and other high tech stuff, I never expected it to be this poor a performer for so long.
Not sure how bullish you are, but I just got filled seconds ago on 5 Aug $16.50 silver calls for $0.052 cents each. Yippy Ki A . .away we go