{"id":354,"date":"2021-02-01T21:53:42","date_gmt":"2021-02-01T21:53:42","guid":{"rendered":"https:\/\/goldsilverdesk.com\/news\/?p=354"},"modified":"2024-07-08T18:16:12","modified_gmt":"2024-07-08T18:16:12","slug":"silver-what-a-day-look-at-who-just-predicted-we-will-see-2500-4000-gold-and-57-130-silver","status":"publish","type":"post","link":"https:\/\/goldsilverdesk.com\/news\/silver-what-a-day-look-at-who-just-predicted-we-will-see-2500-4000-gold-and-57-130-silver\/","title":{"rendered":"SILVER: WHAT A DAY! Look At Who Just Predicted We Will See $2,500-$4,000 Gold And $57-$130+ Silver"},"content":{"rendered":"\n<p>February 01, 2021<\/p>\n\n\n\n<p><strong>What a way to kickoff trading in the month of February as the silver market surged over $30 at one point during trading. Look at who just predicted we will see $2,500-$4,000 gold and $57-$130 silver.<\/strong><\/p>\n\n\n\n<p class=\"has-bright-red-color has-text-color has-medium-font-size\"><strong>Sterling Silver<\/strong><\/p>\n\n\n\n<p><strong>February 1 (<u><a href=\"http:\/\/kingworldnews.com\/\">K<\/a><\/u><u><a href=\"http:\/\/kingworldnews.com\/\">W<\/a><\/u><a href=\"http:\/\/kingworldnews.com\/\"><u>N<\/u><\/a>)&nbsp;\u2013&nbsp;Top Citi analyst Tom Fitzpatrick:&nbsp;&nbsp;The surge in Silver overnight has taken us back to the prior trend high just below $30 which we are trading close to this morning.<\/strong><\/p>\n\n\n\n<p><strong>What now?<\/strong><\/p>\n\n\n\n<p><strong>IF Silver can sustain above $30 on a weekly close basis&nbsp;it would&nbsp;open up the way for extended gains towards&nbsp;good horizontal resistance and the 76.4% pullback&nbsp;level just above $35\u2026<\/strong><\/p>\n\n\n\n<p class=\"has-bright-red-color has-text-color has-medium-font-size\"><strong>On To $50<\/strong><\/p>\n\n\n\n<p><strong>Above here and a return to the all-time double highs of $49.45 (1980) and $49.80 (2011) would look likely.<\/strong><\/p>\n\n\n\n<p class=\"has-bright-red-color has-text-color has-medium-font-size\"><strong>3rd Time\u2019s A Charm As $50 Will Be Broken<\/strong><\/p>\n\n\n\n<p><strong>We have mentioned before that IF we were to test this huge level near $50 a 3rd&nbsp;time our bias would be \u201c3rd&nbsp;time a charm\u201d and we would suspect that it could give way.<\/strong><\/p>\n\n\n\n<p><strong>At present levels Gold is over 100% higher than the peak seen in 1980 so&nbsp;that leaves Silver with plenty of catch up potential.<\/strong><\/p>\n\n\n\n<p><strong>In that respect it is worth looking at the Gold\/Silver ratio.<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center has-bright-blue-color has-text-color has-medium-font-size\"><strong>If Silver Closes The Week Above $30,<br>Look For Extended Upside Gains<\/strong><\/p>\n\n\n\n<p><strong>This ratio looks like it can go significantly lower with a minimum target of 43.5 and possibly as far as 30.5. (We are not even focusing at this point on the low of 14 posted in 1980).<\/strong><\/p>\n\n\n\n<p><strong>All of these lows in that ratio have been associated with an up move in Silver and also normally a rally in Gold.<\/strong><\/p>\n\n\n\n<p><strong>1996-1998 was an exception to this when Gold actually fell during what was an extended bear market culminating in the Bank Of England (1999-2001) and the Swiss national Bank (2000-2008) selling off a significant portion of their Gold reserves.<\/strong><\/p>\n\n\n\n<p class=\"has-bright-red-color has-text-color has-medium-font-size\"><strong>Silver To Outperform<\/strong><\/p>\n\n\n\n<p><strong>In General a move lower towards these lower levels in the Gold Silver ratio is more likely to be Silver outperforming (Poor man\u2019s Gold catching up) in a bull market.<\/strong><\/p>\n\n\n\n<p class=\"has-bright-red-color has-text-color has-medium-font-size\"><strong>$2,500-$4,000 Gold<\/strong><\/p>\n\n\n\n<p><strong>Our bias has been that this bull market in Gold could take us to $2,500 (possibly even this year) and on a multi-year basis towards $4000.<\/strong><\/p>\n\n\n\n<p><strong>IF (and it is a big if) we look at those numbers in conjunction with the Gold Silver ratio targets what do we get?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The most conservative dynamic is that Gold only goes to $2,500 and the Gold Silver ration only goes to 43.5. In that instance we would be looking at a potential Silver price of\u00a0$57+<\/strong><\/li>\n\n\n\n<li><strong>The middle scenario would be Gold only going to $2,500 and the ratio going to 30.5. <em><span class=\"has-inline-color has-bright-red-color\">That would put Silver close to\u00a0$81<\/span><\/em><\/strong><\/li>\n\n\n\n<li><strong>The most aggressive scenario would be for Gold to go to $4,000 and the Gold Silver ratio at 30.5. <em><span class=\"has-inline-color has-bright-red-color\">That would put Silver at\u00a0$131+<\/span><\/em><\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"has-bright-red-color has-text-color has-medium-font-size\"><strong>Silver To Significantly Exceed 2011 High Of $50<\/strong><\/p>\n\n\n\n<p class=\"has-bright-red-color has-text-color has-normal-font-size\"><strong><span class=\"has-inline-color has-dark-gray-color\">Time will tell if any of these numbers materialize but right now there seems a very credible argument for Silver over time to not only get back to but likely significantly exceed the all-time high levels posted close to $50 in 1980 and 2011.<\/span><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center has-large-font-size\">___________________<\/p>\n","protected":false},"excerpt":{"rendered":"<p>February 01, 2021 What a way to kickoff trading in the month of February as the silver market surged over $30 at one point during trading. Look at who just predicted we will see $2,500-$4,000 gold and $57-$130 silver. Sterling Silver February 1 (KWN)&nbsp;\u2013&nbsp;Top Citi analyst Tom Fitzpatrick:&nbsp;&nbsp;The surge in Silver overnight has taken us &hellip; <a href=\"https:\/\/goldsilverdesk.com\/news\/silver-what-a-day-look-at-who-just-predicted-we-will-see-2500-4000-gold-and-57-130-silver\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SILVER: WHAT A DAY! Look At Who Just Predicted We Will See $2,500-$4,000 Gold And $57-$130+ Silver&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-354","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SILVER: WHAT A DAY! 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