Still the pre-market in the US, but coming up on 1:00 PM here in Germany, and roughly 90 minutes ago spot silver spiked as high as $31.12, now settling in around $31.09 in a bullish pennant on the 15 minute chart. Keep an eye out at 8:20 AM EST, as this seems to be the time when the short-sellers come in and try to stuff silver....at least this proved to be the case several days last week....but the buyers have come right back and trounced Blythe Masters and her minions. Now that we're over $31, today, and this week, should be interesting. Historically, over the past 6 months at least, Mon & Tues tend to be up days for gold and silver, with beat-downs coming later in the week. If this trend holds true, we could witness a run at $32 over the next 48 hours.
In the meantime, here's an interesting little video that I ran across which provides more detail/support to many of the statements I've made previously in this blog. I'll warn you now, don your drama-filter, as it gets a little bit over-the-top in places, and please disregard the marketing lines at the end...I have no affiliation with these guys, but the facts as presented (minus the special effects) are true and compelling, in my humble opinion. Will silver ever be worth more than gold? I doubt it. I do however agree with the silver to gold ratio getting down to 10:1, which at today's prices would equal $140/oz silver.
Happy New Year to all.....hope 2011 brings you success and prosperity!
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