I don’t know how many people that come to this blog are interested in silver but heres a chart of silver spot price showing a breakout from the steep downtrend its in. Compared to bitcoins, precious metals markets seem to move glacially slow. However as a long term store of wealth its hard to look beyond them.
Its not the first breakout from this trend, last one was in about Sept 2012 from a lower parallel, but still a positive sign for precious metals. With the USA, Europe and Japan all money printing like lunatics it defies logic how gold and silver can be in true bear markets.
For comparison heres a similar chart of gold.
Gold still appears to have a bit of ground to cover before it reaches the point silver is at. Maybe Silver can pull gold up with it?
Considering Gold is primarily a monetary asset, albiet a bit of a barberous relic from the past held by central banks for traditional purposes, whereas silver is supposed to be more of an industrial metal. Isn’t it an odd co-incidence how the prices almost exactly mirror each other so often? I mean they are obviously free markets, able to find their own price free of manipulation aren’t they, so it must be co-incidence.