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

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Harry213's Avatar
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1298 Posts
 Posted Today  3H 6M ago  Show Profile   Bookmark this reply Add Harry213 to your friends list Get a Link to this Reply
CPI numbers are out folks and they ain't bad, for the metal's at least

Month over Month +0.4% Matching Wall Streets expectation.

Headline CPI Year over Year +3.4% holding completely flat against July

Core CPI excluding food and energy on target +0.2% month over month and +2.4% Year over Year stepping clearly down from last months 2.5%

Going to be a Green day, Fed rate hike probability will drop some IMHO


****Next week is the big meeting where the Fed will announce wether or not they raise, lower or hold, oh boy
Edited by Harry213
Today 2H 44M ago
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barryg's Avatar
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 Posted Today  2H 11M ago  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply
Well, things were pretty grim overnight, but it looks like things are bouncing back a bit in the pre-market hours. Just hit the ~$65 zone briefly before dropping back a bit to the ~$64 zone.
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Harry213's Avatar
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 Posted Today  57M ago  Show Profile   Bookmark this reply Add Harry213 to your friends list Get a Link to this Reply

Quote:
Just hit the ~$65 zone briefly before dropping back a bit to the ~$64 zone.


That's weird,

Silver has been over $65 an ounce since 8:30 when the CPI news hit.

You should stop doing business with those people they're cheating you on the premiums lol

Is-Silver-Ready-To-Hit-$50---1/29/2026:-Will-It-Hit-$130?---Previous-Milestones-In-First-Post
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barryg's Avatar
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 Posted Today  53M ago  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply

Quote:
Silver has been over $65 an ounce since 8:30 when the CPI news hit.


Silver, not silver "futures" (whatever the heck those are).

Is-Silver-Ready-To-Hit-$50---1/29/2026:-Will-It-Hit-$130?---Previous-Milestones-In-First-Post
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Harry213's Avatar
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 Posted Today  26M ago  Show Profile   Bookmark this reply Add Harry213 to your friends list Get a Link to this Reply
Always check the COMEX Silver and Gold CME website when quoting spot prices because the metals dealers premiums as well as their Bid and Ask prices vary so much. That's almost like using my LCS as a guide to what Silver is going for.

Even though COMEX might still quote the back month instead of the front month, it's still closer to what the actual price of 1,000 ounce bars are trading for on the market at this exact moment.

So for example on COMEX Silver just fell below $65 to $64.99 around 11:15 am after spending all morning over $65 and hitting a high of $65.82 that's almost exactly what the December futures were trading at.

Just saying
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Harry213's Avatar
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Quote:
Silver, not silver "futures" (whatever the heck those are).

Silver futures are standardized, legally binding contracts to buy or sell a specific quantity of physical silver at an agreed-upon price on a set date in the future. Typically in 1,000 ounce bar format.

I'll make it easier for you to understand. In other words it's what set's the value of what you think your stack is worth today. It's what drops the price and makes you sigh and what jumps overnight and makes you dance with joy. It isn't the "night crew", it isn't magic, it's trading on the "silver futures" market.

It's what your dealer uses (plus or minus his premium) to Buy or Sell you said Silver, and Gold, yes there is a Gold futures market too, and an Oil futures market, and a coffee futures market and a sugar futures market and yes everything you buy has a futures market.

It's how the big boy's that need thousands of ounces of silver every month (for whatever reason) or that produce thousands of ounces of silver, lock in Silver at a certain price for delivery to or from the COMEX vaults for next month. Or how investors hedge or gamble, or whatever.

We have the Internet and AI so there's really no excuse.
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