Silver Hits $34, Headed to $100?
Today, silver touched $34. (update: last trade was ~ $34.60). Needless to say, the freakishly strong bull market in silver, and gold to a lesser extent, continues.
Chart via ZeroHedge.com.
Today, Jesse says it is difficult to say how high silver will go. Short of a liquidity crisis (aka, Fed stops printing), he says that a "triple digit" price "no longer seems out of reach". Bigger version (pops).
$100 silver? I respect Jesse's opinion greatly (note: he's saying it's possible, not necessarily likely) and would welcome the move, but am wary of becoming too giddy. At $50, I would be tempted to take significant (half?) profits.
Then again, if the Fed gets its way, and we see QE 5, 6... who knows where silver and gold could trade in 3-5 years? It all depends on how long the Fed keeps printing, and how America eventually deals with its debt and liability problem.
We'll see how it plays out, but I suspect when the music stops for precious metals, most won't see it coming. I plan on taking profits in the "mania" phase of this metals run. At least take original capital out, and diversify.
Probably a few years off, but we're monitoring things closely. Don't be mistaken, though. Eventually the time will come to sell gold and silver, sad as that day may be. It's impossible to time 100% correctly, but waiting too long to sell is always a concern.+94
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