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

Well that's it for me for today. Got my 4 trades in and I'm up about 12% so now I'm off to my appointment this afternoon. I'll be keeping an eye on the colorful charts though. Tomorrow could be an exciting day. There's some economic news being released that could move things quite a bit, or not.. Good luck..




I will leave you all with this one final quote and my response below.


So since Silver is a "commodity", just like other commodities such as Oil, Copper, Sugar, etc.. then it is meant to be bought and sold or traded for similar valued products or to be consumed or used in the industrial production or manufacturing of products.
In other words it's used for trade, it can be traded, and this activity is called trading
The only living things involved are the world power's and the governments that enact the policies and create the geopolitical and economic events that effect the price of these "commodities".. And also living are those millions of people and large financial institutions that are involved in the actual trading of the commodity, which also influence the prices. And as history has shown us, some of these living beings may even have nefarious intentions or personal interests in making the price plunge or skyrocket.

If this keeps up, I may need to rethink my plan to bring a bunch of bulk silver to the coin show at the end of July...

After the blow off top in Jan @ roughly ($120), the lowest price in the last 6 months was in March @ $62.80. If you've been looking for an entry, I don't think you'll get a much better buying opportunity. Double Bottom and bullish reversal coming?

Some sideways chop this afternoon in the ~$65 zone.

Indeed. When gold dipped below $4400 last week I briefly toyed with the idea of purchasing a 100-gram gold bar for a cost of just under $15,000. I'm glad I didn't, though, since that same gold bar is now selling for under $14,000. I know it's all about how it performs in the long term (my wife keeps "guaranteeing" me that it will eventually go back up and end up much higher), but I would have been seriously bummed had I bought it only to see it lose $1000 in value over the course of a few days...

And in other news, silver is back down to the $64 range for the moment.

Buying Gold today is definitely a better opportunity than it was early last week when PM's were undecided about which direction to go in, and then decided to go down Friday.. Patience pays off.

This morning after the opening bell, Silver appears to be catching somewhat of a bid. And I think we'll see things start to stabilize again. The past few day's have been brutal and there's only so much the Market's can puke before they take a break and recover.

As Jbuck and other's including myself have said before the $65 zone has lots of support. That drop to $63 is that "fear of God" moment I referred to, when the last of the panic seller's finally throw in the towel and the buyer's start to come in.

I'll be looking to add to my Long paper positions in Silver and Gold today.

And then dropped back into the $64 zone...

Welp, my Buy orders were filled.. Let's ride...

And I'm prepared for the bumps along the way

Silver and especially Gold are both in Oversold territory right now. And even though Gold has fallen way below the 200 day moving average while Silver is just below it at the moment. It wouldn't be the first time an equity has fallen below it's 200 day and then recovered and went higher.

A classic example of this setup—often called a "whipsaw" or "bear trap"—happened to Apple Inc. (AAPL).
During its primary uptrend, AAPL briefly broke below its rising 200-day moving average, flushing out weak hands before immediately reclaiming the line and rallying to new highs.

This false breakdown typically occurs when a stock, or commodity, is deeply oversold on a short-term basis but its long-term fundamental trend remains completely intact.

We can speculate what "might" happen in the next month, or next year, but we won't know until then. These things need to play out completely, especially when there are extenuating and possibly short term reasons for the sell off.