It always has been. And on a value basis, it's also a good buy. Silver has
been chugging more than gold but once it pops up, it could take off like a
bandit.
There are many reasons why silver will go higher and it's just a matter of
time. And as our dear friend Richard Russell points out, JP Morgan is
aggressively accumulating physical silver by the hundreds of millions of
ounces.
This is the largest accumulation of physical silver by a private entity in
history!
Plus, it's three times the 100 million ounces acquired by the Hunt
Brothers in 1980 or by Warren Buffet in 1998.
Some of you may remember when the Hunt Brothers tried to corner the silver
market at the peak in 1980 when silver soared to the $50 level. It was a wild
moment. And today is even more wild.
Headed Higher
JP Morgan obviously thinks silver is going up, and we do too. We think
your patience today will be well rewarded in a future rise.
Alan Greenspan also believes gold will be considerably higher in the years
ahead. So it's not only central bankers who are looking ahead. Others are
too.
Chart 1 shows silver close up since 2013. It has steps, like gold,
as you can see. Keep an eye on these levels as they'll tell the story.
First of all, it's important for silver to continue holding above its
seven month support at $15.40. If it then rises and stays above both its old
2013 support and 65 week moving average at $18.50 and $18.20, it'll start on
a bullish path.
Silver could then jump up to the $22 -$24 levels, its next step. By then,
it could clearly test the $30, which would be the following step.
The bottom line is, silver has great potential and it appears to be
leading the other metals.