Updated 5-28 November 2023: Silver is Gold on steroids!

"This is the price evolution of FIAT PAPER SILVER! - Physical Silver sells at a 40% premium!"

The silver market is tiny. About 700 million oz. of silver is mined each year worldwide. About 200 million oz. Recycled. About 100 million oz. from "other" sources, like governments. That's the supply side. At $20/oz., this is a $20 billion annual market.

Important:  this is the price evolution of FIAT-PAPER-SILVER and NOT of PHYSICAL SILVER!

Silver-Gold ratio long-term Click here for HISTORIC SILVER.

JPMorgan holds over $19bn of derivatives, but only $1bn of silver stock is available!? A gold coin of 1 ounce holds the purchasing power of 1 kg of silver. Silver is often in backwardation. This happens when the future contract is cheaper than the SPOT (physical). Today, the premium of PHYSICAL-SPT Silver is more or less +40% over the Futures price. Historically, Silver corrections average 40%. There is a disconnect between the futures market (paper market) and the physical market for silver. Those who buy silver ETFs and Silver contracts can also keep the paper money they have almost the same: if you buy silver, you MUST request physical delivery AND store it out of political reach. If you don't, THEY will take it from you. All those playing the paper products are sure of one thing. Even if the market fluctuations don't take away, they will eventually lose it all. Silver is in the process of digesting the 1981 $30 - $48 top pattern. After the breakout, this zone will become a LONG TERM support zone.

SLV ETF strip story: BREAKOUT  [SLV is an ETF & should not be bought as an investment !] -

---

5 Nov.: Strong buy	5 Nov.: Target $32	5 Nov.: Pattern X	Breakout & strong buy	Aug 28, 2017: PF Targets
SLV is a Ponzi scheme and theft: they have a structural shortage of physical silver.

Breakout of halfway bottom consolidation - the medium-term target is $48, and the long-term target is $ 145!

This action explains the HUGE FLAG formation: "The Chinese are divesting out of paper right now.  So, we see a huge uptick in euro physical silver purchases and dollar silver purchases.  When Silver took out $33, many physical orders were filled. The Chinese are doing the same thing in the silver market as in the gold market, with massive accumulation on dips.  It is also important to note that the local traders in silver are short and nervous.  Everyone is short silver, so the market can move violently higher when it turns.  When silver reverses, it will be the one that leads the market higher."

$-SILVER
Silver - with PF Targets	Bullish objective	$58-$68- $120
	Resistance	$28.00
	Major Support	$ 20.00
	Bearish Objective	$ 14.00
	Technical pattern	Long Term Breakout	The price of physical silver.

Short candle	Chart comment
	Jan 5, 2016: more bullish technicals - see the short candle. Jan 4, 2017: fresh upleg + backtest completed Jan 13, 2018: Screaming Buy Jan 3, 2019: Will the overhead resistance be broken? Jan 6 - Feb 4, 2020: Fresh upleg March 24: Bear Trap + Strong Buy Dec 2 - Jan 2, 2021: Breaking out the Bullish Flag = SCREAMING BUY Jan 8: JPMorgan shorted more than a year of mining production. Aug 9 - Apr. 6, 2022: SUPER-BUY - Targets are: $28 - $38 - $48 May 4 - July 12: Did you BUY and add to your positions? The newly calculated Target 1 is $79  or +243%! Oct. 1 - Oct. 15: SUPER BUY - Physical Silver is 40% more expensive than Fiat Paper Silver. Nov. 5 - Dec. 3 - Jan. 7, 2023: Breakout and Buy. Feb. 14: STRONG BUY [Feb. 15: spinning bottom] Mar. 22 - Apr. 20: The end of Backtest after Breakout. May 17: STRONG BUY. June 10 - Sep. 26 - Oct. 2: STRONG BUY and Silver will lead Gold. Nov. 5: About to start the BIG UPLEG!?
Long term candle

Strong BUY	Strong BUY	Strong BUY
Click to enlarge. The first chart was published in 2017. All charts are very bullish.

Silver expressed in Euro

€-Silver
	Bullish objective	€ 32.00
	Resistance	€ 24.00
	Support	€ 18.00
	Bearish objective	€ 14
	Technical pattern	new bull run.
	SCREAMING BUY

Short term candle	Chart comment
	Jan 4, 2016: Silver should be the BIGGEST winner of 2016! Jan 4-Feb 17, 2017: BULL RUN + backtest completed Jan 13 - Apr 13, 2018: Screaming Buy: Mind the 2nd upleg Jan 3, 2019: Will the overhead resistance be broken? Dec 27 - Feb 4, 2020: Fresh upleg Dec 2: end of the BACKTEST and a Screaming BUY. Jan 2, 2021: Target is € 28, € 32 Jan 8: JPMorgan dumped more than an entire year of mining production. June 10: Short-term targets are €24 - €28 Aug 9 - July 12, 2022: SUPER-BUY + strongly oversold! The target is €32 Oct. 1 - Oct. 15: SUPER BUY Nov. 5 - Dec. 3 - Jan. 7, 2023: Breakout and Buy. Feb. 14: STRONG BUY Mar. 22: End of the Backtest after a Breakout. Apr. 20: Higher, we shall see. May 20: Corrections in Bull Markets are "swift & violent." June 10 - Sep. 26 - Oct. 2: SCREAMING BUY. Nov. 5: About to start the BIG UPLEG!?
Long term candle

Silver expressed in Swiss Francs -

	Bullish Objective	FS 34
	Resistance	FS 26
	Support	FS 18
	Bearish Objective	FS 14
	Technical pattern	Beginning of a new bull trend
	SCREAMING BUY

Short term candle	Chart comment
	Jan 4, 2016: Silver should be the BIGGEST winner. Jan 4-Feb 17, 2017: fresh upleg + backtest completed Jan 13 - Apr 13, 2018: Screaming Buy Jan 3, 2019: Will the overhead resistance be broken? Dec 28 - Feb 4, 2020: The beginning of a new upleg. Jan 2021: Target is FS 28 - FS 32 Jan 8: JPMorgan dumped more than an entire year of mining production. Mar 2 - May 5: Screaming BUY Aug 9 - July 12, 2022:  SUPER-BUY + strongly oversold! The target is FS 34 Aug. 4: Silver is STRONGER than Gold! Sep. 6: Strong Support and Strong Buy. Oct. 1 - Oct.15: SUPER BUY - Physical Silver is 40% more expensive than Fiat Paper Silver. Nov. 5 - Dec. 3 - Jan. 7, 2023: Breakout and Buy. Feb. 14: Strong Buy! Mar. 22 - Apr. 20: End of the Backtest after a Breakout. May 20: Corrections in Bull Markets are "swift & violent." June 10 - Sep. 26 - Oct. 2: SUPER BUY! Nov. 5: About to start the BIG UPLEG!?
Long Term candle

Only retarded investors don't get this! Investing is NO CASINO; this information is still actual, even in 2019.

€ Silver month	CHF Silver month
The price goes up when time is up: Time is UP (Nov 2017 - Feb 2019)
Strong Buy.	Strong Buy.

A perfect technical picture we had. See the 2004 breakout out of a vast bullish triangle. In the 20 years (1985/2004), the resistance line has become colossal support. The first bull run was interrupted in 2008 when Lehman Bros collapsed, and we had a substantial deleveraging. [Whether Lehman is to be blamed or not is another chapter.]

During the Deleveraging action, the BREAKOUT level is positively tested (indicating we now have a confirmed BULL TREND). After the test, Silver geysers again to the top of its long-term trend channel. Either Silver goes parabolic, or it needs to consolidate sideward (I think the latter will happen).

For this reason, I expect Gold to perform better this year than Silver. Silver is the poor man's gold. Silver will be strong if people are insecure, and we sit with this Fiat paper money. We have a paradigm shift: what we live in today is not the ordinary recession we lived through during previous cycles. By now, this should have become clear to most. The Crisis asks for extraordinary measures but also for exceptional protection.

Silver is one way to ensure your savings. It is a REAL ASSET, REAL MONEY. (The alternative is to buy Government bonds that yield nothing, keep your money in Bank accounts that yield nothing, or stack it under your mattress where it will be inflated away). At this time, Silver sits in a congestion zone....the bigger the zone, the larger the subsequent run.

---

Updated March 15, 2010

$-Silver objective for Wave II is $ 42,50 - €-Silver objective for Wave II is € 35: Silver has finished the 1st Wave cycle 1,2,3,4,5, and the subsequent ABC correction. Logically, it will reverse and start its Wave II cycle in the wake of Gold. The objective is $ 42,50, or 5 times the low.

• April story: Silver and Gold usually put in a bottom in March and a top in April. On March 18th, we had a bottom for Gold. If one misses the March bottom, one usually has to wait for the Summer to see a fresh buying opportunity.
• Silver moving averages have now also confirmed their Golden cross.
• Gold and Silver mines are strong, indicating higher prices for Gold and Silver are to come. As a matter of fact, several Gold and Silver stocks have broken above their 200-day moving average.

Updated December 20, 2008

And while the “paper” Silver price was recently nominally taken down from just above $20/oz. At around $13/oz., it is increasingly hard to find physical Silver at any price. And if one can find it, one has to pay as much as $4 or so over the spot, i.e., around $17/oz, on average. Such is the ludicrous result of living in an Interventional Universe.

Manipulation?... The least one can say is that this is a weird happening.

Last week, widely regarded silver analyst Ted Butler reported on recent developments during the July 1 – August 5, 2008 time period in the precious metals complex [specifically, open-interest data in COMEX futures].

Butler’s work shows that as of July 1, 2008, two U.S. banks were short 6,199 contracts of COMEX silver (30,995,000 ounces). As of August 5, 2008, two U.S. banks were short 33,805 contracts of COMEX silver (169,025,000 ounces), an increase of more than five-fold. This is the most significant position by U.S. banks I can ever find in the data. Between July 14 and August 15, the price of COMEX silver declined from a peak high of $19.55 (basis September) to a low of $12.22 for a decline of 38%.

For gold, 3 U.S. banks held a short position of 7,787 contracts (778,700 ounces) in July, and 3 U.S. banks held a short position of 86,398 contracts (8,639,800 ounces) in August, an eleven-fold increase and coinciding with a gold price decline of more than $150 per ounce. As with silver, this is the most significant short position ever by US banks in the data listed on the C FTC’s site. Click here for more.

Updated November 20, 2008 - Time to buy silver!

€ Silver bar monthly & daily charts-: Will the Central banks really convince the Herd that it is better to keep Paper Fiat Money and Government bonds instead of Real Money? Do the markets erroneously think we are going for a cycle of DEFLATION? Or is this a bear trap and an abnormal shakeout of the Bulls? Again, with the actual fundamentals, I cannot imagine we have entered a Bear Market cycle. The daily bar chart shows a nice reversal. Time to buy!

 ©, All Rights Reserved - The contents of this report may NOT be copied, reproduced, or distributed without the explicit written consent of Goldonomic