... and how it gears miners
Last post has been focussing on the price consolidation of gold. Only few quotes below $4000/Oz seemed to indicate a bottom, while $4400 seemed to be a solid ceiling.
Last post has been focussing on the price consolidation of gold. Only few quotes below $4000/Oz seemed to indicate a bottom, while $4400 seemed to be a solid ceiling.
January 2026 has been a fairy tale turning into a nightmare for long silver speculators. There had been a December 29 'rehearsal' of a silver smack down, but the rally resumed in the new year, with the metal promptly surpassing the $100 psychological limit. Targets morphed into unrealistic predictions. Then came Friday January 30, with the largest single day drop of the silver price.
After bouncing off a $54/Oz ceiling twice, silver eventually broke through on Friday Nov 28, closing at $56.33 on the NYMEX. While silver miners advanced even more over the day, they are not fully reflecting the stellar silver rally.