After a brief correction earlier this week, silver today surged 3.5% to $42.00/ounce.
The move, which marks yet another 30+ year high, made a nice spring day that much nicer, at least for this silver bull.
Hopefully the poor soul who placed those massive options bet against silver on Tues/Wed was only hedging a physical position...
I don't pretend to know what drives a market on any given day, but the overall fundamentals driving silver and gold higher remain very much intact. If anything, they're getting stronger:
Hopefully the poor soul who placed those massive options bet against silver on Tues/Wed was only hedging a physical position...
I don't pretend to know what drives a market on any given day, but the overall fundamentals driving silver and gold higher remain very much intact. If anything, they're getting stronger:
- Currency devaluation
- Loose monetary policy
- Unsutainable debt levels worldwide
- Industrial demand
- Inflation (wholesale prices rose .7% in the US in March, a 7.8% annual pace)
- War and unrest
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