The Silver Guru, David Morgan, anticipates a 4th-of-July style, fireworks display for silver aficionados.
– David expects silver to hold above the break-out to gain momentum for the next leg higher.
Well, it’s been up 25% for year and if you go back a month ago we were at, $27. You go back just a couple months and we were sitting there around the $22 level. Oh you’ve been as high as $32 in change a couple of times.
So right now on a short-term basis, $32 looks like a double top, probably temporarily. Looks like we’re establishing a trading range somewhere between probably $29 and $31 or so. It still remains to be determined. But it’s one of those things that comes out when no one expects it. I mean this is very typical of silver in particular.
– $29 may represent a key support for silver.
– Is a test of $50 silver, imminent?
Well, typically it takes three times or four times. So I would think usually it gets three and then the fourth time it goes through So on that basis, this is probability. It’s a high probability that will get to the $50 level again, maybe $55-56. Maybe something new and the silver people get excited and it’s a new all-time high… Nominally not real terms but it’s exciting nonetheless, and there we are. And then it disappoints and drops back to it drops back to $38-42…
Then of course, all the naysayers say, ‘I told you silver can never get over $50 for very or get over $50 and stay there…and then it builds a base, it goes up above $50, hits $60, it keeps on going. So that’s what I think will happen. We’ll probably test $51 one more time, disappoint, and come back through – and once it’s through on the fourth time, That’s it, sayonara, goodbye. That’s all she wrote. We’re going to be above that level for some time.
– Will silver continue to surprise investors with sudden, parabolic advances?
– Price and volume remain constructive for gold and silver mining shares.
– Are geopolitical risks making a lack of gold and silver ownership, risky?
– Tribute to the gang at Financial Sense, Jim & Mary Puplava, and John Loeffler
– David’s documentary trailer
– David Morgan’s main page