The breakout these pages advised about in early June the breakout above $36 would result in a rocket ship to higher prices and as I advised on radio and social media, $40 and above this week is now a realistic possibility.
This morning silver futures broke above $39.50 per ounce on heavy volume from Asian and the Middle Eastern buyers.
If one thinks this is just an isolated event to torture the shorts on the COMEX (who can’t suffer enough), news from Japan this morning from one of the country’s oldest precious metals dealers reveals just how violent the price moves have been and the impact on their pricing.
For a dealer to reprice twice daily, be it in Japan or anywhere else for that matter is an interesting development as they obviously anticipate much higher prices.
Buckle up boys and girls because once there is a weekly close above $40 per ounce, prices will move rapidly.
