The precious metal closed 6.5% higher at $31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.
Not only silver is at its 10 years high, it also closed the day with a record high gain, 6.5%. (gold is >$2415) It looks like they are running out of paper and can't suppress the metal prices with their worthless papers anymore. I can't really believe that though, can they really run out of paper?
The US debt is growing exponentially and the only way to pay that much debt is printing even more debt > hyperinflation
It will be either Weimar Germany or there will be WWIII soon. I don't think the USD will go down silently and peacefully.
Probably why a lot of financial advisors nowadays are asking us to be on the lookout for bitcoin, silver and gold lol (looking at you Robert Kiyosaki). What surprises me though is why silver is outpacing gold. At the very least besides the cosmetic and aesthetic applications of gold it has its uses in the tech and silicon industry, which in theory should consistently shoot up its price, and it should coincide with crypto too cause at the end of the day, mining is directly tied to the computing power of a system, and this is heavily reliant on the quality of silicon and gold that is used to create it.
And yet here we are, silver outpacing gold for some reason. Abundant supply, not that much of an application besides industrial and aesthetics, could it be that people think they can't put a stake on gold anymore since it's that priced highly, and so twitter degens are ape-ing on silver thinking it's the second-best, which causes this massive pump and trend?
Can't say for sure, but all this means is that I have to buy more silver now, and really diversify my money beyond just crypto and real estate as it seems lol.