Is Silver Ready To Hit $50 - 1/29/2026: Will It Hit $130? - Previous Milestones In First Post

Well, I stopped using the APMEX chart since it always seemed a bit overly optimistic, so now I'm using the one from Kitco, which seems to be more common.

Uggh I'm training someone at work today so I'm missing all the action and can't even make any moolah trading


Some whipsaw action today. I'm looking at December futures prices and the high so far today was $68.98 at around 1pm and the lows were in the $66 area pre market open.

We're seeing these swing moves because tomorrow and Friday are the Big day's with the PPI and CPI inflation numbers coming out, Friday's CPI number is the one to look out for.

Pro tip for charts- try a live 'candle stick' chart with 1 min, 5 min or 15 minute intraday views, that refreshes every second (or as frequently as possible) and with prices close to COMEX.

The night crew and my beloved N.E. Patriots both seemed to have dropped the ball last night. Back down to the ~$63 range right now.

Some highlights from this mornings action.

The major indexes are seeing pressure as oil rallies to $100

The PPI numbers released today were mixed so that's not helping either.

The rise in crude is exacerbating inflation concerns, driving global yields higher, and supporting the Dollar while weighing on equities and Gold. Precious metals are lower but spot Silver is seeing greater losses than it's counterparts.

The expectation from some people is that tomorrows CPI is going to be ugly.

Unfortunately there is a technical difference between a sideways chopping pattern and skidding across the floor, this sadly is the latter.

Weirdly enough though Gold did show a slightly more obvious bounce back up from $4365 to $4410 and isn't just laying there on the floor looking dead like silver is at $64.90

It's up to Gold now to save the day.

BTW
Silver is down 5.48%
Gold only down 1.22%

Okay I'm going to speculate a little based on today's Numbers.

The average daily move for Silver in recent months has been roughly 2%-3% per day. Today was nearly double that. Being that markets are always 'forward looking', it could be that it's already priced in the probability of hotter than expected CPI numbers tomorrow.

Gold is a lot more complicated right now than Silver. And a lot more important globally as an economic and financial instrument. This somewhat explains why it didn't go down as hard. People, institutions and Central Banks are still buying Gold because of what's happening and what's about to potentially happen.

So if we get bad CPI numbers tomorrow I do expect stocks will keep falling but Gold and Silver may not fall too much further than here..

And of course if CPI is cool, or mixed, then we might even see a little bump up in Gold and Silver.

Just my guess for tomorrow. We'll see it early right before the opening.

Looks like we have ended the day shift in the ~$64 zone.

Will the night shift go shopping or continue to sell?

Say it ain't so!