Silver Surges Another 4% Over $28.20/oz as Short Squeeze May Push To $50/oz


Silver and gold appear to be in a short squeeze which is propelling prices higher in a very short period of time. $30/oz, $40/oz and the nominal high of $50/oz are potential price targets for silver and longer term we see the inflation adjusted record high of $150/oz in 1980 (see below) as a real price target.


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NEWS and COMMENTARY

Gold holds near record high as dollar dips, growth outlook dims (Reuters)

Gold keeps its shine as investors shun dollar (FT)

ETF joins world’s biggest gold owners as investors flock in (FT)

Gold will top $3,000, says this firm, one of the first to call the gold bull market of the 1970s (Marketwatch)


Bank of England sees slower recovery, 9.5% drop this year – Biggest collapse in 99 years (Reuters)

 


ors eye stimulus talks in Washington (Reuters)






GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

04-Aug-20 1972.250 1977.90 1508.77 1519.62 1671.09 1686.56
03-Aug-20 1972.950 1958.55 1509.50 1504.56 1678.39 1670.45
31-Jul-20  1974.700 1964.90 1505.91 1492.54 1666.84 1661.72
30-Jul-20  1952.20 1957.65, 1503.00 1502.10 & 1662.30 1662.44
29-Jul-20  1954.35 1950.90, 1506.80 1502.39 & 1663.54 1659.24
28-Jul-20  1931.65 1940.90, 1499.15 1501.48 & 1647.70 1654.23
27-Jul-20  1940.55 1936.65, 1511.30 1504.78 & 1659.56 1647.70
24-Jul-20  1893.85 1902.10, 1486.67 1490.30 & 1631.55 1638.09
23-Jul-20  1882.35 1878.30, 1480.28 1477.47 & 1624.47 1621.54
22-Jul-20  1851.00 1852.40, 1462.85 1456.91 & 1604.82 1598.44
21-Jul-20 1823.20 1842.55, 1436.86 1449.35 & 1594.21 1608.36
20-Jul-20 1810.30 1815.65, 1437.92 1438.18 & 1580.21 1590.87
17-Jul-20 1802.90 1807.35, 1435.47 1442.45 & 1578.98 1581.07

 


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Mark O'Byrne

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