Silver is Now Primed to Jump to $30 and Beyond

silver pricesThe Brexit, oil meltdown, global central banking policy, and a whole lot of uncertainty surrounding November’s presidential election could easily push the price of silver not just about $20 an ounce in the near term — how about $30?

If one were to design a perfect storm of factors to push precious metal prices higher, it would like something like this:

  • First, cause a crisis in the EU when a major power unexpectedly votes to leave the consortium.
  • Next, tank oil prices with increased production despite waning demand.
  • Then, have all of the world’s central bankers agree that zero percent interest rates and flooding the economy with printed money will prevent a recession, and
  • Finally, pit a despicable, megalomaniacal businessman/celebrity against a detestable, lying former first lady in the presidential election.

For all these reasons and more, it’s very difficult to be bearish on precious metals — especially silver, which has drawn particular interest from investors this year. With so much pricing momentum, and so many geopolitical and market factors blowing in its sails, there’s no reason to think silver won’t continue to post gains through the end of the year.

SLV-2016-07-28

The iShares Silver Trust ETF (NYSE:SLV) surged $0.71 (+3.80%) on Wednesday to $19.37. The SLV, which is the largest silver ETF in the world, was down slightly in premarket trading Thursday, and has gained nearly 47% year-to-date.

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