Is The Third Time The Charm?
Looking at the chart of Silver for the last 12 months, it is hard to reconcile two disparate occurrences. Before this most recent selloff began, about three weeks ago, silver was up around 35% YTD and OUTPERFORMING gold.
One could become despondent, seeing that largely evaporate, with the so far $5 pullback. Here is the positive that is hard to fathom, given that outperformance, up until three weeks ago.
It occurred, despite the fact that silver had already had two major drops of $4+ and $6.5, since last Dec. This now $5 drop, so far, could(not a prediction, but worse case scenario) end up reaching close to the 200 day mvg. avg. which would be another $1-$1.5 drop.
So as disconcerting as it is to see a good chunk of the last 12 months gains dissipated, this just sets silver up, for what I suggested recently. That both metals will have larger annual percentage gains in 2025, than they eventually end up with here in 2024.