so much uncertainty, which is what's driving precious metals. Silver price at $60 is no longer a matter of "if", even the "when" could be as I typed.
I am not going to lie. Silver is a lot more speculative than gold, but with gold price already making its run, this tag team has to carry on its game. Silver has to play its part.
If you look at the strength of USD, or weakness of the dollar, it is not difficult to understand why we are seeing today's tag team situation. Like I mentioned in my last post, it is not just silver, the accompanying platinum and palladium are doing their own catch up as well.
Looking at cryptocurrency on the other hand, their collective weakness strengthens the hand of precious metals group. Not only would the traditional buyers like central banks load up even at the higher commodity prices, the continued strengthening of precious metals also attracts some cryptocurrency buyers to jump over.
The FOMO is real at this corner of the market. It's simply a cycle, strength will attract more buyers, buyers will push the prices up, strengthening the demand further.
Now we wait... Will the US Fed cut the rate tonight? That's the question. Will it fuel further boom in the more speculative corner of precious metals group?
I won't care either way since I have a long term plan for it. Even silver price at $100 would be considered a start rather the end. Why so? Time has changed, but fiat currency remains fiat. With USD continuing its race to the bottom with all other world's major currencies, I don't see why silver, with its growing usefulness and limited supply, couldn't worth a lot more than $100!
Just my 2 cents. If this post gets its rightful readership, so be it. If not, I will just consider another diminishing returns... Eventually I might end up with so many other contributors here in đŻ, who writes nothing of note since we are not appreciated.
@Tiger_comments @Daily_Discussion @TigerStars @CaptainTiger
Comments