This thing will rocket to 6 and change before you know it. I rode it on the last run. The PM market is way oversold. Heavily manipulated. When industrial buyers start having a hard time buying silver and gold for their products, the price of PMs will skyrocket. I suspect that most miners are not selling at these low prices, and are currently hoarding. Does anyone have any info? Did longs pay too high of a premium for recent acquisition? Regardless, The ride is up from here. Until the next major correction. Bernie pumping the economy with hot air.
Hit 4bucks? Actually the $5.50 area[min] before years end is more realistic IMO. I'm basing that prediction on several thing's. Using my old "50%" retrace rule SLV should test the $25 level & GLD close to the $1550 area. Maybe even well before year's end. WHY? Because the economy including employment data is substantially weaker than the number's would indicate. A deflationary spiral is also the feds worst nightmare. The "academic" solution, keep pumping stim & let the U.S. fiat fall in value. This should increase money velocity & asset values-including PM prices. I would also point out that at current PM prices most miner's are barely breaking even-if they are lucky! How long can that last before we see significant production cutback's which will eventually lead to shortfall's & higher prices? A stagflation scenario is still very much on the table IMO. Then of course as a backdrop we now have oil prices at 14mo. high's & E-JIP on the cusp of a civil war, not to mention brazil & all the othe hot spot's! Why would HL participate? Because at this point in time I think bad qtrly earning's are already priced in & even a modest upside surprise will drive te stock higher. Not to mention they still have a substantial cash cushion, not in any immediate danger of bkrptcy AND some excellent leverage /properties to develope. This little dog is a survivor -PERIOD! If one can think in term's longer than 72hrs!