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Business/Finance See other Business/Finance Articles Title: Silver Won’t Take Prisoners Once It’s Really Running Silver Wont Take Prisoners Once Its Really Running by: David Morgan Money Metals News Service September 17th, 2020 Silver has experienced strong price momentum this year, but so far the white metal hasnt been able to break through the key $30 per ounce level. For David H. Smith, senior analyst at the Morgan Report and a contributor to Money Metals, its only a matter of time before that happens, and investors should make sure their portfolios are ready. The resistance level is around $30, and whether that happens within the next week or two, or it takes a month, (its) hard to say, he told the Investing News Network. Once it gets a couple of closes above $30, I think everybody is going to be jumping on board the big funds and everything. In his view, market participants should be cautious about trading in and out of silver right now. He anticipates that the precious metal will keep running quickly after it moves through $30, and ultimately there may not be time to get back in. When this thing really gets underway and decides to challenge the high $30s and into the $40s, I dont think its going to take any prisoners, Smith explained. Looking at whats been driving silver this year, Smith identified factors related to both supply and demand. On the supply side, he mentioned that silver was in its fourth year of declining production even before COVID-19 hit. Meanwhile, demand has been high enough that its been hard to get physical metal. Smith emphasized that the important thing for investors to do is be prepared. I do think its the chance of a lifetime for investors now. And its an asymmetric chance of a lifetime you dont need to mortgage the house to do well, you can buy a modest position of physical, and a few good mining stocks and hold on. You may be shocked at what you see in just a few years in terms of the appreciation on both of those metrics, he said. Watch the video here... Post Comment Private Reply Ignore Thread Top Page Up Full Thread Page Down Bottom/Latest
#1. To: BTP Holdings (#0)
PM pundits have been saying this same stuff for the last 7 years.
It has been longer than that. I have been buying silver since it was $6.50 to $7.50 an ounce. The thing is the banks like J.P. Morgan have been shorting silver to suppress the price. I bet they are scrambling now to cover those shorts. Once silver is used it is gone for good. And it has many uses. ;) "When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
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