Silver Predictions

[10:50] if you ask me what I thought had the higher chance of a higher return, it would be silver.

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[13:32] I think silver's probably got the biggest. We didn't talk about that yet... I think you'll start to see the flow of money coming in there. We're seeing it kick off with gold, but I think the the lesser buyers and the the the poor man's gold, they'll start participating and start to step into silver here.

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[0:19] silver could go up to 500 bucks or so, you know, it wouldn't shock me. Silver is the most explosive market I can think of right now in terms of upside potential.

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[40:02] Silver has vastly underperformed. And, that's one of the reasons I think you're going to see the slingshot effect in silver. And, the miners as well.

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[26:32] when gold goes over 5500 will say ah yes but the fundamentals are better now than it was the last time. Or for silver when silver goes back over 120.

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[14:38] we have seen this in silver. It goes through the correction and now it's inching back up because sun using this uh for the sun as a source of energy with silver is not going away. But they also need it for military.

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[20:27] You get that silver price going back up into the 70s and the 80s and the months ahead.

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[27:32] silver probably I think it's still a good buy too. It will it will chase that gold price upward. So you can still buy it.

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[15:53] We've been bullish gold and critical minerals for months at Phoenix Capital Research, and we thought this breakout was coming sooner, but it looks as though it's finally here.

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[28:28] two years from now if silver is 500 bucks, you're not worrying about whether you paid uh in US spot price, you know, like $68 an ounce or $58 an ounce.

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[4:58] I'm using $7,000 gold, $200 silver, and and I I incrementally increase that as the price of gold, silver goes higher. And I do think we I think those are conservative targets.

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[17:24] I'm also pegging my first level of resistance in silver at about $6330. That's a Fibonacci retracement. Also matches up with the activity uh first week of June. If silver was to move above this on a closing basis on a daily chart, we've got some room between I can add the 38... at around $68.

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[19:14] If it retraces, I really wouldn't want to see it go below about uh $60.30 and maybe uh 61 right in there. That would give us an opportunity to buy this dip. Otherwise, we still want to be fairly cautious on silver.

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[10:28] I have a target for silver here for the summer at $70. Uh I think that's realistic. We touched the 50-day moving average today around 63. I think the high today was 6277. So um yeah, I think it's also the breakout here out of this sideways range uh this bottom building. Uh uh so I think it's bullish in the short term over maybe the next ideally we we have a few weeks maybe one to three months for that that nice bounce and rally

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[15:32] I do think we're going to see most likely silver uh miners and gold potentially move higher while the stock market rallies over the next few weeks or or couple of months. But you know it's it's going to be what happens after that like how how is this price action going to unfold.

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[16:17] I think we found a pretty solid base at $55. You know, I've been talking about the last couple of times and I think we saw found a pretty solid base in gold at about 4,000. I think those are great spots to get and I think what you've seen is after that that gyration move, we came up and went into a downtrend for a little bit. I think you can see now over the last 3-4 weeks we've kind of based around 55 to 60. I think that's a great level to step in and start to be a buyer again

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[33:00] I would be surprised if it breaks strongly below $50 here. Um I think we are in a new price range now. We have broken out above $50... until then silver probably will rather remain a little bit muted while gold needs to move higher and and make the first steps in into a new bull market territory but I think it will take some time

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[18:42] I actually still think there's a good chance we touch $50 and retrace to the 2011 peak before silver really has its day its next bit major run.

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[19:00] I wouldn't be surprised if silver still has more downside. Now, you might say, well, if gold can gold break out without silver and the answer is it can. It's generally unlikely, but it could break out slightly.

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[19:51] for all we know, gold silver could come back to $45 or $40 per ounce.

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silver's path to a possible $500

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[42:41] silver is a great candidate because it's a monetary metal and and an industrial metal... I'm just curious in which market we'll see real physical shortages because we haven't seen that... if you get real shortages in silver or in copper or uranium is another one where you can expect shortages after 2030 and then things start to get very interesting

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[1:18] I I think you saw gold fine 4,000 is a pretty good level to hold. Silver 55 and platinum about 1,600. Uh I expect to see a pretty solid rally.

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[5:43] It's still going to I think it we're going to we're going to have a massive run here and it's going to do well. I would prefer if we went up 2% a month, 25% a year for the next 8 years.

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[2:41] for the last 6 months it's been an accumulation phase where it's had this wash out to form a base from where to move to the next level... this is where it's consolidating to be the base of which we're to move from here onward. And we just have to get this wash out finished. And then we'll start moving upward again. And moving from this position is pretty exciting... that's going to be super interesting the next over the next year.

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[13:19] the only trades that I would make down the road is if you have gold and well the ratio is high. I think it's almost 70 to 1 right now for gold to silver... if you're looking to do anything, sell a little bit of gold to buy silver because the ratio is still high. And then later when the ratio reverses whatever that is a few years or whatever then you can sell silver and go back to gold and get twice your gold or three times your gold or four.

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[0:00] I wouldn't be surprised when silver goes back up to $100 uh in the next few months.

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[40:00] I I could envision silver going back to hundreds of dollars pounds in the next few years. And I'm on the record. I I gave a presentation in January and March this year at the VIC in Vancouver where you're now. And and in March at the Ped in Toronto that this bull market in silver will not be over be before we see $500 silver.

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[22:21] I've been a buyer at silver around $55. I've been a buyer of platinum at the 1600 level. I think those are pretty solid base levels. I think what you saw was that parabolic move higher in all three. You saw the dramatic collapse... I think now they've settled and I think now they're ready to start moving their way up again.

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[30:43] Silver long-term is fine. It, you know, it will go up, but it's very volatile. And I also want to warn people that is an industrial metal. So, in in an economic slowdown, it'll get sold probably. It'll do a lot worse than gold.

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[1:43] I see 40 to 50 as being the bottom. So, the the roof of the basement is 50 bucks. The the the the floor of the basement is 40 bucks, okay? Or thereabouts. So, I'm expecting it to go to 50, probably go down a bit more and then wobble about and and establish a bottom.

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[2:45] And that moment where that starts is not that far away. It's sometime this year. And I think that that I will start itching under $50 and I will start thinking about picking up some bars at that point.

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[7:30] then it will go under 50 in and around between 40 and 50 and it will go sideways. And the same with gold.

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[28:11] Silver under 50 bucks, 40 bucks. All of a sudden it it looks like I should be building a position. Maybe a two-year position. Maybe I should lay in a ton of silver over the next couple of years. Yeah, no hurry. It's not going to go like that... It's going to be 40ish, isn't it? under 50, over 30, and you want to acquire it over there, and it's gonna go like that, and it's gonna be boring for two years, and it's gonna go bang

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[13:40] now that gold is back around 4,000, silver is back around 60, those were always kind of our targets. Not that it has to play out exactly how we would project, but this was the level we were waiting for. And now we're incrementally building those precious metals positions back into the portfolio.

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[12:59] On the other side, when there is bearish market sentiment for the precious metals, uh silver's decline will be a greater percentage than what we see in gold.

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[30:03] Silver prices are looking extremely attractive at these levels right now in my view as well... gold and silver look like more oversold steeply uh uh you know in terms of history um and and should be bought for those reasons.

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[4:57] I think you know, the gold and silver and copper prices have got to go up, and I mean that over the long term, the next few years.

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[22:43] Silver is a, you know, like I'm excited about all the bullish cases for uh just about every metal out there right now, but silver is special. Uh it is leverage. I've always said it's going to leverage gold. Why? You don't have to get too deep in the weeds because it always has. So it always leverages gold. is going to do it again.

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[23:08] the difference now is that within the next few years if not already uh industrial demand is going to absorb every bit of newly mined supply. Above ground supplies have been taken off have been eliminated by many years of annual supply deficits. So if you have monetary demand driving that at the margin of demand for a metal where the supplies are not there and you have industry is bidding against investors and industry absolutely needs the metal at virtually any price. That's that's that's a good dynamic to be in as a silver investor.

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[8:35] We're we're getting near the bottom on silver and we have a maybe another 10% to go on gold somewhere thereabouts. That may or may not happen. Nothing is guaranteed. Uh we can have world events happen you know tomorrow, next week, next month that that throw all the charts off and the and metals will go upward because of uh uh global events of some magnitude. But if everything stays relatively calm, um, status quo as it is now, uh, you you could be looking at a zone of silver, uh, in the, uh, 50 to 54 range, uh, which will be a great buying opportunity.

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[13:16] if you bought, you know, five grand and in FOMO, uh, January at $171, um, peak an ounce for a maple. Well, now you can buy them for roughly 92 bucks or whatever they are and uh, start accumulating like crazy because it's going to go back to 171 and beyond.

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[0:00] I I don't like to get into the numbers game, but you know, I I could see 10,000 gold and $300 silver. I don't think that's an unrealistic. By the way, and people had put out these numbers, OH MY GOD, he's crazy. Every super cycle we've been through in the one in the 70s and one in the 2000s, the price go of these commodities go up by 7x on average

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[9:28] physical supply will ultimately win relative to physical demand in terms of bringing those values up.

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[4:31] we're not going to see sub $50 silver I don't think in our lifetime you know that's maybe sounds like a bold prediction And you know maybe intraday it might break 50. I doubt it. But uh you know we've been basing out here in the mid-50s for the last uh you know couple months now.

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[4:56] the world needs to wake up to the fact that silver's $60 and it's never going backwards.

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[16:13] Don't forget it'll be there again. We're going there.

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[2:01] silver is in that range a lot of people watching the 50 level I learned the hard way that you don't put a single price and say that's where I buy it because you can miss both ways It can frustrate you if you go to 45. It can frustrate you if it bottoms at 60 and and you missed it. Um, so I would be careful there, but I think we're in a accumulation phase of all these assets.

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[2:58] I think we've seen the lows quite honestly we but we need to bounce around you know the market the investors institutional investors need to get used to this kind of new pricing regime that we're in and it may take 6 months it may take 12 months uh you know who knows

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[16:58] I don't know how long it's going going to take to get back to triple digits, but I'm confident it will.

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[31:18] maybe we'll hit 120 gain three times before it breaks through to go to some other level

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[15:08] I think again long-term silver is really um looks good when we get around to AI... going forward, we're going to continue to have that industrial use for silver... when I look and say, you know, it's it's it's come from, you know, in the last, you know, couple of decades, it's come from five or $6 to 60. Uh the silver investors longterm have been rewarded.

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[23:54] when we get under 60 55 to 60 I I would think that would be pretty much a low and I would be looking to be pretty aggressive

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[6:08] There's a parabolic up chart. You need to sell parabolic up charts because they resolve to the downside.

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[17:01] Our prediction in the beginning of the year was that silver will get to 120 from where it ended last year. Of course, it got to 121 in January. We're all very happy about that. Um and it has since traded off significantly. We still believe it will get to 120 by the turn of the year.

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[5:36] doesn't mean silver won't be higher a year from now, but just a short-term top.

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[10:23] it is pointing to about $40 per ounce. And And that's why I'm excited cuz I love silver in that way cuz it is extremely volatile... I love it if we can get silver down to these levels. It'll be like back the truck up because it'll be a very short-lived window. It may only tag 40 for minutes or maybe even hours and rebound, right? That's what this chart is kind of pointing to. It's going to be a a couple big red bars, and then it's probably going to bounce right back up into the 60 range.

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[2:51] we could have a more prolonged pullback because of what we did but in the longer run we will base out and reassert we expect continuation rather than this being a top. Same goes for silver and platinum.

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[0:00] look out. Gold goes to seven, you know, silver goes to 200, Bitcoin goes to 180. I mean, that's that's kind of what I see.

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[34:29] Gold and silver. Gold and silver I am most bullish on. Again, you know, we think that the prices consolidate over the next few two months uh but then rise in the the final part of this year.

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[11:28] this is a long way down from where we are. This is $40 silver. But what it does, Jeremy, is it actually goes right back... All of those people who chase returns are chasing performance and trading on emotions. The market loves to try to put them under pressure and try and get them back out before they go.

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[28:37] Silver. Bullish two years.

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[14:41] interestingly enough on the silver side with it breaking down to 58 today the small speculators always lose it's too bad that's the way it happens in the market but the small speculators have been long silver long silver long overall during this drop and I think this week they're starting to puke it out. So, we're going to start to see the small speculators just sell their positions and get out and that might be a sustainable bottom.

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[17:40] we want to break back into that channel for silver of of 70 to the 85, right?

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[4:30] I stand by the case that um gold and silver will bounce back further for all the same fundamental reason. I mean I could go to the the whole debt situation, the currency debasement that goes on.

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[36:01] I think uh a characteristic of the upcoming bull market in precious metals uh will be eventually a leadership transition from gold to silver.

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[12:06] I've been saying 54 and then $50 is likely where it's headed. I still think 54 at minimum. I will start nibbling at 54, but I still think there's a highly likely chance that we're headed to that even number of 50 and even piercing 50.

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[33:03] personally, I think that gold is in a correction phase as well as silver and that it may last for a while.

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[28:03] the price could still go even lower from here, but if I hear you correctly, you're saying, 'I don't think this game's up at all. I think this is a breather' ... Well, it's just I mean cost averaging for sure.

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[33:46] Silver is at $65. They're like, 'Oh, look. It's it was $120 and it it crashed to $65. You see, it's a bad investment.' $65. If somebody told you two years ago that silver would be $65 today, they wouldn't even believe you... uh $200 silver.

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[17:02] both of these metals medium to long-term are going to be great trades. And that's that's basically my thesis.

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[2:20] our belief here is that now this is consolidating finding a bottom in this range somewhere. When it's finished doing that, it's going to have another run and go even higher is what we believe. We're in a multi-year bull market here.

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[17:54] In 2000, silver was around the $5 mark, five bucks, ran over to over 50 to over 10 times, but then eventually when it it settled down, it found a channel sideways for a long time, say 18 to 25 roughly uh dollars. So that was your new channel off of five five times four times five times. So now we've gone from this channel of 2025 four * 5 times that could be 80 100 or even more

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[28:57] silver and gold have had their time in the sun for now... not a new alltime high at this point. um that you'll see another bounce, but then I think the that will be due to the I expect the dollar to weaken a little somewhat here actually down to 94 maybe a little lower than that on the Dixie and and if you see that then that will be good for gold and silver but not new alltime highs here.

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[3:59] buying in in the low fours or buying silver in the 60s or 70s. Um, you know, that's that's a that's a decent buy because I think we've got another couple coming.

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[26:48] my view is we're actually going to go in the other direction that we're going to go to 100, 120, 150.

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[27:26] I don't think we're ever going below 50 again.

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[29:44] silver is back in a long-term bullish scenario. And when we look at it... silver has come up whereas gold has not. And so, um, to me, when I see something like this, as I continue to accumulate, I'm going to look to accumulate silver rather than gold, or if I'm doing both, more silver than gold in terms of dollar investments.

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[9:57] I'm most bullish on the metals, believe it or not, gold and silver. Uh I think that they they have made their bottoms. I think listen, you if you look at silver, silver, silver took a 50% haircut from its highs. Uh I'm still very bullish on platinum.

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[15:57] But didn't you think I mean, there's experts that are calling for $300 silver. Yeah, that's crazy. That's crazy. That kind of reminds me when people were predicting $200 oil and of course it moved in the opposite direction.

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[11:42] Was gold do a 20% correction? Maybe. Was silver do a 50% correction? I don't think so. I think that's overdone and that's been overdone through the use of paper contracts, naked shorts, in other words.

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[23:43] you want to be heavier in silver than gold just because of the ratio. Uh at 64, it's still way elevated and that tells you that the the price of silver will go up more rapidly on a percentage basis than gold.

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[21:41] I've I've maintained probably for the last 10 years now that my belief is the failure to deliver will be in silver. And the reason being uh we're now six years into a structural deficit. The the estimate is that by 2030 the demand is going to be 1.5 billion ounces per year versus about an 850 million ounce global production.

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[25:51] Silver silver tags along silver acts the same way with with two footnotes. Number one usually with a lag you know gold will take off before silver will take off but silver's along for the ride... yeah, it's going to go up to over 100 and then keep going.

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[31:43] Silver below 50 normal reversion. I mean, it was just still well above where it was a year or two ago.

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[41:44] in the short term I think you're going to see more pain in silver... if we're going to see that pullback towards this $50 former resistance now support that's a pullback of uh I think more than what is it 70% or something from the new all-time high

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[41:30] so I'm I'm very bullish for silver from an industrial perspective and also from a precious metal precious metals perspective. But when I say very bullish that means in the long term over the next let's say 5 to 10 years.

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[22:50] I think it's probably got a little bit more room to go to the downside. I would think probably in the mid-50s.

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[31:51] I like silver a lot. Some people describe it as the higher beta version of gold, but it is hard to see a world where you're constructive on gold and silver doesn't participate because it's a much narrower, less liquid market. So, when there is a buying impulse, you see much larger moves

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[19:45] in spite of recent price behavior in Bitcoin, gold, and silver, you know, I'm still massively bullish on all three of these things. And, and we're just in kind of one of those periods where they they got ahead of themselves last year.

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[0:00] Michael Oliver is calling for $300 to $500 silver. He says it could happen on an aggressive timeline, potentially as early as this summer.

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[28:34] And that's what we're focused on right now. And I think that's likely to occur this month.

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[8:50] Right now, we traded down in the 68s today. Okay, I'm going to tell you this. If next week you see it up in the 62 to uh excuse me, 72 to 74 zone and you're short, you better recover. Okay? Uh because you've had your three shots to break this market down into the 50 buck level or wherever you think it's going to go. Um and you failed.

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[0:41:49] And I would say the same a little bit for silver... we see a possible risk that the gold silver ratio is going to have a little squeeze up again. So we also here we're in a bit of a flag and we see the possibility that that could go up. So that means a little bit of underperformance from silver as well.

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[0:01] silver was our number Silver was and actually remains our number one pick for the year um before it hit um 120 ounces. um dollars per ounce before before the war when it hit its high. We had suggested it would get to that point which which it did. Um from where it was going into the year and then of course it's fallen back and it stayed in this sort of $75 per ounce range. I think that is a tremendous opportunity. So I I'm not off silver... I'm absolutely still bullish on silver. I still see it getting back to 120 or higher by the end of the year.

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[18:28] Yes, it's likely to be the case. The repricing would probably be on the upside given the supply constraints.

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[20:51] this bull market won't be over until silver's, you know, Eric says maybe eight to one. You know, I'd say, you know, 20 to 30 to1, 35 to1, you should be certainly paying attention to, hey, are we are we getting near the end of the bull market? And we're nowhere near those numbers.

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[29:37] the downside for silver is pretty dramatic. Like from where we are, as you and I are speaking today, which is uh May 28th, there's a 46% haircut that could come into silver, which is quite substantial.

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[22:15] I I be have I I want to get back in because that supply demand deficit is still very much intact. Uh silver's down obviously dramatically from its peak what for 354% from its highs. So it's had that correction. uh I'm just waiting for things to sort of settle out and that period as I talked about earlier of consolidation digestion after that parabolic move needs to needs to now create a sort of a technical base but from a fundamental standpoint I think the fundamentals are still very much positive for silver

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[46:25] I would be shocked to see it break silver break the 65 level or thereabouts where it was the last collapse that we saw... I don't think it violates it.

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[10:39] they're probably going to try and hold silver below 70. I think it's 78. And if they can push it below 77, they will.

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[24:06] I think by the time it's all over, I think silver will probably outperform the the mining ETFs. So, but either one of them is going to make good money. Pick a number. Let's say silver goes up 500% from here and GDX goes up 475%.

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[8:43] Silver tried to break out last week, failed a little bit, but I I could see new highs in silver this year as well. I'm expecting to see silver get back over 120

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[32:29] The way I see about precious metals silver and gold particularly is that you need to look at them on a longer term perspective... I think you need to continue to have gold and silver.

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[6:32] we're going to see at this next round if we get a higher price and I believe we will think we'll see something similar at the $100 level because a lot of silver investors that have held for a long time washed through the $50 level watched it move up and then saw the January move of 70% in one month saw it go basically from the low 70s to 120.

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[9:51] the Elon Musks of the world can see out, you know, two, three, four, five years and they know what the dynamics are. So, they're very happy to buy silver at 80 because they know it's going to be 160 to two years from now or whatever the price may be, it's almost undoubtedly going to be higher.

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[39:01] historically and the seasonality is that we see a kind of a dull summer for the metals and I think that's going to be the case again. I wrote not in the report I sent you but previous one I expected to see a broad trading range for both gold and silver probably through the summer. I still believe that

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[10:57] that's how I get to 180 right and I'm not so sure that I'm not too conservative still

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[12:24] silver is very volatile so that could go down you know 50 60 70% gold probably less so maybe 30 or 40% but it could go 50 and this goes 75

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[11:19] I have a long-term forecast of $1,000, but that's out early 2030s.

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[30:57] Silver has finished its correction in my opinion... I do believe silver and copper have already bottom

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[9:13] what happens with commodity verticals is there's always another bite of the cherry. In fact, there's several bites of the cherry. They they they make the amazing top and then they fall off and everybody's sad and then they kind of come back and then everyone's go, 'Yeah, it's going to do it again.' And it doesn't and then it falls heavily and then two years later it does it again but not quite as much as before. So there are shocks and aftershocks in commodities when you get a boom bubble bust. And to me this just looks like a a silver aftershock.

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[36:11] I'm not here to time it. Many in the silver space are far more bullish than I am. But I'm easily at $200 silver.

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[36:26] Silver will move in a beta trade to gold in a bull market. Gold's bull market is just beginning.

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[23:25] I think we're diverging a little bit in terms of silver taking the place or gold or the tail wagging the dog or gold pulling silver along. I think that both markets are actually behaving um independently and actually uh the conversation isn't really about one substituting the other just to chase returns.

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[36:29] We think getting back over 80 again in silver is a table pounder.

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Silver at $73 and the Disconnect in Mining Equities

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[42:37] For me, it's 7 I'm using $7,000 gold right now. $200 silver.

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[19:20] Silver's got a, you know, $175 upside target

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[0:09] Gold and silver trade sideways for a year or two or three.

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What's interesting in this chart is uh where it settled after this spike. So it didn't go back down as you know on two occasions before uh well remembered uh by some and that means that there is some tension between the investment market and the physical uh demand and of course the physical market is mostly in China... industrial demand of course has tightened and this we see it now because the market silver market didn't settle back to what it was before that spike that's positive overall for for the silver market going forward

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[18:22] we're still talking 46 $4,700 gold and 7075 silver.

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[28:37] look for 90 spot, which is around 80 SLV. That's this big red line. That's where we think it'll get better. And that's when silver will have confirmed that the correction is likely over.

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[24:07] And and interestingly enough um if you think of copper or even silver, those are almost in in my view over the next 5 years more predictable in the sense that they are you know they're not being produced at the level that we we need them. There's already a shortfall.

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[0:00] I would not be the least bit surprised if we get to new all-time highs in gold and new all-time highs in silver and other commodities too because this is a commodity phenomenon. Gold and silver are just first in line and uh I expect all commodity prices to trend higher for new all-time records this year.

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[45:53] silver has been in deficit for the last five or 6 years. It's likely to stay in deficit for quite a while

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[26:46] you could easily make a case that silver might retrace that decline and go back down to $60 or even into the 50s uh from where it's trading today at about 80.

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[18:50] And then I think $200 silver is easy.

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[11:35] I think both of them will achieve that.

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[8:18] The levels that I would like to see is if it does continue to move higher, obviously break above 80, but it's breaking above 90. That really shows the momentum is built because we'll get resistance at $96. That is simply based on this former top that came in on the second day of March. So 80 is a critical number, but to me the real critical number to actually take out is right above $89. That would signal the next level which comes in at 96.

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[18:48] I think in the next, you know, 5 years from now, we're going to probably see gold and silver up hundreds of percent from here.

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[19:36] Well longterm is the easy one. I think we're going higher. That's that's a simple one there. As I mentioned before, I I I don't think any of the reasons why we rally to $5,600 in gold or $120 in silver has disappeared. Nothing has changed fundamentally. So, the fundamentals are still in place.

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[53:59] Gold and silver: why he expects a major decline from here

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[29:56] We think gold probably goes down and touches its 200 day moving average. Probably the same with silver, but that might actually present an opportunity to buy some, um, add some.

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[23:18] I do think though that uh over the next couple years gold is the most important reserve asset in the world and that um it will resume its rally as will silver.

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[11:26] And now my prediction is that it's back over $50 headed to 100 again. It's never going to go back under 50 because of all the inflation that we've seen in the past.

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[6:13] still that same impact of looking at this major level of 49 to 54 that is where I expect this to come down to and likely it'll coincide with the gold level as well.

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[3:04] I think the fundamentals that drove the metal prices higher still uh still in place, still intact.

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[5:42] I look at our deficit is going to only only widen if you look at u some of the new applications and and uh you know silver batteries silver the the silver carbon uh Samsung batteries, solid state batteries um uh coming in 27. Well, they're actually coming for gadgets in 26, but the real um you know, the real demand I think we'll we'll see out of that coming in um in 27.

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[0:18] I fully expect silver to go back to near 50 and gold initially to buy to drop down to 4,000.

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[2:39] we already we're already above 90. We've been above 93 94 in the last few days. pull back a little bit, but I think we're going to start to we're going to continue to see this climb continue. Hopefully um less volatile, but I think this year we'll we'll continue to bring a fair bit of volatility.

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[1:43] Now I'm calling for $500 silver. Is another 5x. That's possible. Oh, yeah. Uh look at the gold silver ratio. Uh traditionally has been 1 in 10 for over 2,000 years. Gold is trading 5,000 1 in 10. Silver is 5,000 $500.

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[27:04] I I I think we're going to see silver prices establish itself in triple digits.

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[27:15] I think silver has potential to pop to about 140. That would be the next upside target based on technical patterns.

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[13:12] That's why I believe there's still a retest of those lows that were made in the high 60s in silver and around 44 4500 on gold.

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[17:57] Do you think silver could hit $200? Oh yeah. I can't guarantee it, of course, but I think I think 2026 just because David silver is the metal of the in information age.

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[18:32] Well, I I would be surprised if silver didn't come down to between 50 and $60.

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[11:14] Well, I I think in the past, if you look uh with Chinese New Year, uh the traditionally could sell off and before it, but uh we traditionally rally right at once they reopen. So, I I I think these are just short-term impacts and I don't think it really changes the long-term fundamental of the market.

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[1:54] Silver though looks very dangerous to me. Okay. So, I would just say if you've been longing the trade, either take profits or find a way to hedge your position. I do think we are in a secular bull market uh in commodities and in the precious metals complex. So, this is not to say that the bull market is over. It is to say that we are right for a very significant near-term pullback

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[36:15] And March is an active COMX delivery month. The other 432 million ounces mostly will be rolled into May over the course of February. And that will have an up uh that will apply upward pressure on the silver price especially in the last two weeks of of of February.

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[0:00] Our assessment of this move in silver in particular is that it's going to a new reality. I think silver's going into several hundred dollar, may even go as high as 500. And I think it will do it by summer this year.

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[28:16] Short-term. Again, my short-term target is about $115.

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[29:54] In terms of my endofear target, the way we've seen it explode, I'm looking for 160 to 180 by the end of 2026.

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[20:56] So if we were to just take a look at this last big consolidation in silver we take the low we move up to this standout reversal this this pivot high and we come back down to this low it's going to give us our two levels that we always follow or that I always follow. Those two levels are the 618. That's the 61 um% extension. It's called the golden ratio, the Fibonacci golden ratio. If you move to that level and price has a little bit of a hiccup, which it has, we almost always go up and see price hit the one level, which is 100% measured move. And so that is at the 106. So that is what I'm expecting to hit most likely this week

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[17:07] I do see silver reaching 90 probably averaging 65. Um that high price is a is a 26% yearon-year increase.

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[0:00] So, silver hitting $100 next year, would that surprise you? >> No. In fact, I expect it to happen.

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[1:06] I wouldn't be surprised to see silver hit over 80.

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[19:56] generally speaking, we still think that there's more upside and and and we're still long these commodities

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[4:32] I expect silver to consolidate again at some point here. Maybe it goes up the the technical guys tell me it goes up to 68 something like that just below 70 and then maybe corrects for a while.

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[28:08] there is a significant chance that both correct and consolidate for a while, possibly even all of 2026.

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[25:53] I think the more the more likely scenario in silver is a continuation of the recent bullish trend moving higher taking out the former all-time record high of 5445

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[25:00] I suspect this market will clear within another couple of weeks or so.

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[1:48] And I think even at these nominal prices, gold is still very undervalued and so is silver.

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[0:08] I think we're going to take out $50 for the first time in silver's history and we're probably going to keep moving higher. It's go to 75 or 100.

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[34:15] I would be hardressed to see an effective close above 50 for a sustained number of weeks

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[1:11] gold heading towards 5,000, silver heading towards $100 an ounce.

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[42:56] our expectation is that it probably touches $50 toward the end of this year or in the first quarter of next

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[2:21] I suspect that's coming. Uh we've got a very very tight market right now. If you look at the uh LBMA, if you look at where inventories have come down to, if you look at the the demand for the for the industrial side of the metal and the monetary demand, um we are in a very vulnerable moment right now. We are 50 million ounces away from a price squeeze.

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[0:00] I think we're going to lower rates in a big way. I don't think silver prices would be here at $40 an ounce in that environment.

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[23:52] we think there is further to go for silver and and probably for gold

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[32:28] I see more upside in silver than gold right now.

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[18:27] I now believe and three months ago chose that silver now is in the same ballpark in gold. In fact, I think it's preparing to outperform gold for the next several months

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[23:18] I would say that here based on positioning, short gold, long short, long gold, short silver is a nice trade to me here.

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[34:55] I don't think the story is over. What's the next level you're looking for for silver? Uh on the upside is uh almost 42. uh this is basis of futures contract between 41 and $42

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[25:31] So I think silver has a lot further to go in this bull market for precious metals.

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[16:46] I think it has all the ingredients to take out that key resistance in the 3536 area. And I think we're going to see a much higher silver price later this year

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[34:13] I think our average silver price is around 32 $33 an ounce in there.

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