Here at The Gold Enthusiast we stay pretty much focused on gold. That leads to a certain amount of emails asking why I don’t cover silver prices, too. Well, if we did that we’d have to find a Silver Enthusiast… not that that would be terribly difficult.
With gold bumping along its bottom, it’s not a bad time to look around and see what other precious metals are doing, so today we’ll look at silver. Rather than starting off with technicals, we’ll go the other way and start with the theorists. Theodore Butler at SilverSeek.com published an article yesterday detailing why silver could run to $50/oz again, and in the not-so-distant future.
You may recall silver has run up toward the magical 50 number twice, once in the 80’s thanks to the Hunt brothers manipulations, and then in 2011 in the aftermath of the last big market crash. Today, Butler argues, there is much less silver around while demand for silver has gone up, thanks to more uses in modern electronics and manufacturing.
So why are silver prices so low? You’ll have to read Butler’s article to find out. Does this Gold Enthusiast think silver will go to 50 soon? No, but we can’t rule out the eventuality, as we watch prices for candy bars that used to be 10 cents hit $1 and small cars not any bigger than VW Bugs pass $20k base price.