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

Global Average (Per Person): There is roughly 0.5 troy ounces of investment-grade silver (bars and coins) for every living human being.
Average American Household (Non-Investment Form): Industry estimates suggest the average U.S. household owns between 5 and 20 ounces of silver in the form of jewelry, cutlery, or antiques.
Casual Owners (US): Many Americans who own silver for investment purposes hold a small amount, typically ranging from 1 to 10 ounces.
Active Investors/Stackers: Dedicated silver investors often hold 100 ounces or more, with many active "stackers" holding thousands of ounces.
Investment Tiers (Global):
Top 20%: Requires owning approximately 45 to 60+ ounces.
Top 5%: Requires owning roughly 150 to 195+ ounces.
Top 1%: Requires owning approximately 490 to 640+ ounces.
Credit Google Research

Niger's military government has cancelled concessions held by three gold mining and processing companies as it intensifies efforts to assert control over the country's natural resources.

I am not a stacker and my OZT is in the triple digits.

Silver opened at $84.82 and just peeked above $85 before retreating.

Gold opened at $5185 and dropped.

Light Crude Oil opened at $98 and shot through the roof and hit a new 52 week high of $104.61 a barrel sheesh



**Edit- Oil kept going after I wrote this, and made new 4 year high actually, $111.24 just 5 minutes after the COMEX open.

This is what's currently unfolding with Silver right now. That tight range of $82-$85 that we saw since last week is currently being tested to the downside.
79.64 has already been touched. Gold is also down. That doesn't mean they won't bounce later... But.

To be fair- the DOW Jones, Nasdaq and S&P futures are all selling off tonight, with the DOW already down over 1,000 points to 46k. Nasdaq and S&P are taking similar big losses on a percentage point basis. So we could have a big gap down across the board at the open tomorrow with high volatility. Not good.

Down drafts in the overall markets tend to pull down nearly everything around them. Even if only temporarily.

Last week the RTH session was negating the overnight "doom and gloom" selloff. The overnight session, Europe in particular (which opens several hours before NY) was selling off every night. Then the NY and U.S. market would buy it back up. Although they weren't always able to bring it all the way back up to the previous days high. But the intraday highs were at least higher than the open. And it acted as a safety net that prevented the market from crashing further.

The reason mainly is that there weren't enough new sellers in the RTH session. So that's what to watch in the morning. Will the buyers continue to step in, or will new sellers (shorts) finally pile on, exhaust the buyers and bring it all down?

Watch for $78.06 to hold and for a bounce in Silver. If that level cracks, and Silver loses support, even overnight, then $72 could be the next stop or at the very least $77 will be the new ceiling.

Not a prediction or investment advice.

Just amazing how everything has turned around overnight. When I went to bed last night all of the markets were selling off hard. Silver and Gold both came dangerously close to breaking support. Oil shot up nearly $25 dollars a barrel or 25%, hitting a high of around $119.61 nearly $120 a barrel in a couple of hours. And the dollar was catching a bid.

Things took a 180 degree turn now. Silver and Gold are back to around last weeks price range. Markets have almost recovered from the huge losses, as of this writing. And just like that!, Oil sold off and dumped all of those huge gains from last night and is back below $100.

Crazy times