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EC SD | I though silver might hit the $100 level sometime later in 2026, but it appears to be ready to hit it before the end of Jan. With momentum this strong, I am doubtful that it will stop at $100 now, and may not even pause as it goes higher yet.
The physical silver market is driving this rally, so it is not some speculative bubble. Demand for physical silver has outpaced supply for 5 years in a row, and the accumulated deficit is a full year of supply. Although silver prices have soared, annual production is a bit lower today than 5 years ago. This is odd in the world of commodities, as normally more production is the reaction to higher prices.
In last week's report, we see large market participants, rolling contracts out of Mar 26 into Jan 26 and Feb 26, so they can demand physical delivery sooner. This is also not normal in the world of commodities, where normally the big money continually rolls forward, to avoid ever taking delivery of physical...
I am playing the rally with the miners, so I bought more PAAS yesterday, and I already have a lot of WPM and CDE. My physical holdings are modest in comparison... | |
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silver hits 91.37 tonight, and other news
