Buy the Breakout in Silver

Buy the Breakout in Silver

well after months of waiting silver finally broke out today I have been pounding the table on my podcast and also on the special videos that I’ve recorded for shift gold to buy silver ahead of the breakout because it appeared to me that a breakout was eminent well now that breakout is history but the good news is it’s still early it’s not too late to buy silver sure it would have been better to buy it before it broke out but buying it right after the breakout is almost as good it’s a lot better than weighted silver closed today not only above $30 an ounce but above $31 an ounce it finished a week at around $31.50 although I still see it trading that’s up better than 6 and a half% on the day silver is now up more than 30% so far in 202 for today’s close is the highest price and the highest close for silver since February of 2013 and if you look at a chart it looks like the price is going to accelerate rapidly from here that’s why I am recording this video but you know silver isn’t the strongest metal year to date that honor goes to copper and it’s not even precious copper was up about 4% today not quite as much as silver but it was up 33% so far in 2024 you know I looked at the 1970s the inflationary decade of the 1970s and if you look at what happened at Copper prices from 1970 through 19 80 copper didn’t even move that much it only moved up about 90% during in the course of that 10 years now that’s still a pretty big increase 9% a year right that’s a lot of inflation that drove up the price of copper but so far this decade since 2020 before covid it actually got even cheaper if you measure it from the covid lows but I’m ignoring that if you just look at what’s happened from 2020 to May 2024 we’re already up 80% this decade isn’t even half over you know a lot of people people say this isn’t the 1970s they’re right it’s not it’s much worse than the 1970s that’s what copper is telling you in fact if I look at a chart of copper I think an explosive move is coming we may even get to $10 a pound it closed over $5 today think about 58 at $10 would represent a double from where it is right now but looking at the chart I think that kind of move can happen it may even happen as as soon as next year but even if it takes another two or three years for the price of copper to double that is a huge move and believe me if copper goes to $10 a pound silver is going to $100 an ounce probably higher and that means $31.50 is still cheap if you don’t buy the breakout above $30 you may end up buying the breakout above $50 that could happen soon so I wouldn’t wait I’ve been talking to the guys at shift gold and they’ve been telling me that a lot of our customers have been waiting for a pullback now if you’ve been listening to my podcast I’ve been advising people not to do that it’s not worth it any pullbacks are going to be short and shallow it’s not meaningful if you are a long-term buyer like if you want to trade silver or gold day trader oh sure yeah you got to be more strategic look for pullbacks but if you’re day trading or even short-term trading you shouldn’t be buying any physical silver or gold open up a Commodities account trade futures or buy an ETF at a uh you know discount broker that’s what they’re for they’re for trading you don’t trade physical gold and silver the transaction costs are too high what you do with physical gold and silver is you buy it and you keep it and you keep it until you need it not until you sell it a lot of people are going to need their precious metals especially their silver they’re going to need it because it may be the only monetary instrument that other people may accept in exchange for goods and services we have a real currency crisis we have hyperinflation which is a distinct possibility how you going to buy stuff if we end up with price controls which I think may come there’s going to be shortages there’s going to be black markets how are you going to buy stuff on the black market it may be that silver is what you need so you’re not actually going to sell your silver you’re going to use it as money and one of the best monetary Silvers is junk silver if you don’t know what junk silver is those are US coins minted by the United States that circulated as legal tender up until 1964 all dimes quarters and half dollars were made of silver 90% silver to be exact in 1965 they took the silver out of uh the currency or the coins and they replaced it with nickel and copper but pre1 1965 you get silver and they sell junk silver in bags and they call it junk because it’s circulated know you can buy uncirculated uh dimes or quarters or half dollars and they cost more because they’re more for collectors if you just want the silver that’s in the coins then you buy the junk silver and they sell it by the bag a full bag is ,000 face not a th000 ounces of silver but a th000 uh dollars face and you can buy it in fractions of a bad we’re running a special at shift gold over this weekend so you can call don’t even wait till Monday you could do it over the weekend we’re going to be selling junk silver at $1.79 over spot this is a very low price and in fact looking at the premiums historically junk silver is cheap it’s cheaper over spot than it normally is I expect that to change I think the move up in silver is going to attract a lot of demand and there’s not a lot of supply of these bags so while there is some you should contact shift gold if you want to get half a dollars and they’re you know they’re nice looking coins uh you know you get the Kennedy half dollar the Ben Franklin half dollars you can buy those but they’re actually 50 cents an ounce extra more than a dime or a quarter the dimes are a pretty good deal because if you want a really small quantity they’re perfect for barter and they don’t you know they don’t cost anymore the reason that the half dollars are more expensive is they didn’t mint as many there’s not as many half dollars around as there are dimes and quarters so it’s all a supply and demand situation plus people like the half dollars just as a solid coin and so you’re going to pay more if you want to get them but the key is to get them before the price and the premium go much higher you know every time we get one of these strong Fridays I think maybe over the weekend we’re going to get an explosive rally Sunday night come Monday morning we’re going to Gap way up we haven’t had that happen yet but it’s gonna happen and I think when we get a real big move because today’s move was solid but it wasn’t you know the type of move that I know is coming that may happen Monday it may not it may happen on another Monday or any given day but I think there’s a good chance that when gold and silver really break out it’s going to be in Asia because that’s where all the buying is coming from in fact if you look at the prices that are being paid in China for gold and silver especially silver they’re paying big premiums over what we’re paying over here so that’s where the buying is taking place in fact if you look at investors both in the US and Europe they’ve been net sellers the ETFs the gold ETFs have had net outflows for the last 11 months now I don’t know so far for May maybe it’ll change because this month isn’t over and we don’t have the data but for the prior 11 months investors that buy ETFs have been selling gold the entire time that it’s R gold closed the day up $40 it closed at$ 2415 approximately $40 an ounce on the day this is the highest close ever for gold it’s the highest weekly close ever because we happen to be at the end of the week it’s not the highest price ever because back in April intraday we traded as high as 2,430 we didn’t close there we sold off quickly that was about you know early in the morning today we closed higher than we did the day gold set that all-time record high I think that’s extremely bullish the charts look phenomenal for Gold Silver and copper also uh platinum and padium have been moving up as well I mean it’s the entire Metals complex that has been rising you know recently um jome pal said he doesn’t see any evidence of stagflation he sees no stag he sees no flation well he’s CLE clearly not looking at Copper not looking at Silver you know silver is an industrial metal but it’s also a precious metal copper is more of a industrial metal I think what’s happening in silver and copper is even more indicative of inflationary pressures building than what’s happening in Gold the big buyers in Gold have been the central banks they’re not buying any silver they’re not buying any copper this is being driven by inflation and it’s not investors who are buying they should be but it this is real buying from the real economy now sure gold is an industrial metal too it’s used in industry just not nearly as much as silver because the price is too high so they use silver instead and in some cases silver is too expensive so they use copper but these are very important metals and they are flashing an inflationary warning that the FED is oblivious to the same thing with the weakness in the economy we have been overwhelmed with economic data recently of weakness in the economy and Pal doesn’t see that either everybody is delusional in thinking we have this strong economy and inflation is on track to return to 2% we have a weak economy the only thing that’s strong is inflation and prices are about to start to rise far more rapidly in the near future then they’ve been rising in the recent past so the key is before the investment Community wakes up to what’s going on you want to buy precious metals and if you look at the action in the mining stocks which I’m very much involved in I have most of my precious metal exposure personally in mining stocks and that’s because I’m so bullish on gold and silver that I want to own the companies that not only mine it but that have it in the ground because when you own a Mining stock you own the gold and silver that is in the ground that the mines own that they’re going to bring out of the ground in the future when the price is even higher and they’re going to sell it and they’re going to make a ton of money so I’ve been so bullish on gold and silver that I’ve loaded up on mining stocks now over the last 10 years in general buying physical gold has actually been better than buying the mining stocks the reason for that is the entire rally investors have remained skeptical they don’t believe it investors expect gold and silver prices to fall and so they don’t want to buy uh gold and silver mining stocks because they expect earnings in the future to fall because they think gold and silver prices are going down this is the most unloved precious metals bull market in history which means it’s got a long way to go it’s not even close a capitulation what we need is the precious metals Bears to capitulate that has to happen we need to see investors who have been shorting gold mining stocks or just avoiding them to buy them because even though the GDX and the gdxj which are indexes of gold and silver mining stocks even though both of those indexes closed at 52 week highs today there are fraction of their all-time highs and the GDX was up a little over 3% today gdxj maybe 4 and a half% those are big moves but they’re not nearly big enough considering what’s going on considering where the price of gold and silver are right now where they closed and where they’re likely to be in the near future institutions are not buying these stocks and what that tells me is prices are going to keep Rising until they do buy gold and silver prices I think are not going to have any meaningful correction that represents any kind of buying opportunity until the price is high enough to cause the Bears to capitulate and we’re not even close to that moment we haven’t had big short covering we haven’t had a big influx of buying we haven’t even seen gold and silver stocks get upgraded nobody is putting buys on stock stocks uh that are holds uh nobody is reiterating or raising their price targets everybody on Wall Street is oblivious to what’s happening I don’t know if they’re intentionally not noticing it or they just literally don’t notice it because none of these stocks are on anybody’s screen nobody even cares about gold and silver maybe they talk about Bitcoin and that’s been a big distraction to prevent people with seeing what’s happening in real gold because they’ve been fixated on Fool’s Gold well the smart money has been buying physical gold and silver underneath the radar and so I recommend that my clients take advantage again the guys at shift gold are going to work all weekend so that you could buy before the open on Monday now maybe Gold’s not going to take off but you know what doesn’t matter you got to buy it anyway but who knows something could be going on something big could be happening in Asia and maybe just may while Americans are enjoying their Sunday you’re going to see an explosive rally uh overnight they wake up Monday morning and they’re going to see much higher prices in gold or silver I’d rather buy mine now and own it than be surprised uh by not buying it and have that happen because even if it doesn’t explode on Monday you got it I don’t see significant downside from here maybe Silver’s never going back below 30 I don’t know maybe uh we have support just below there but we’re at 3150 what difference does it make again when silver is at $100 an ounce is it going to matter if you bought it at 31 or 29 or 28 or 32 no it’s not going to matter what’s going to matter is if it’s at 100 and you still haven’t bought it because you’re waiting for a pullback there’s no reason to wait just call up uh shift gold uh and they will uh recommend or help you with the junk silver with the special that we have and of course you could buy anything you don’t have to buy the junk silver special I just think that it’s a great time to do and if you don’t have some you should get some and if you have some it’s an opportunity to buy more but you can also buy gold you know on this breakout it’s a first time ever closing above 2400 eventually $2,400 gold is going to be very cheap and so before it it it is you want to buy it before we get a real expensive price people think the current price of gold is expensive because they don’t have perspective they’re just looking in the rear viw mirror and they’re lot looking ahead at what the prices are likely to be in the future and again if you are more speculative gold is a conservative store of value it’s a safe haven if you want to look at the opportunities of mining stocks if you don’t want to buy just gold and silver at shift gold but you want to own the mining companies that have the silver and gold in the ground then contact the representatives at europacific asset management or look into the europacific gold fund that could be bought no load at any of the major uh discount brokerage houses that’s it for now enjoy your weekend and hopefully you take advantage of our special and worst case you prepared for something that didn’t happen immediately but that will happen ultimately but best case you got in just under the wire bye everybody

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