{"id":54464,"date":"2020-07-30T08:51:11","date_gmt":"2020-07-30T13:51:11","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54464"},"modified":"2020-07-30T08:51:14","modified_gmt":"2020-07-30T13:51:14","slug":"massive-investment-demand-puts-silver-back-on-the-mainstream-radar","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54464","title":{"rendered":"Massive Investment Demand Puts Silver Back On The Mainstream Radar"},"content":{"rendered":"\n

Massive Investment Demand Puts Silver Back On The Mainstream Radar<\/a><\/h3>\n\n\n\n

With silver up 30% for the month, the shiny metal is now back on the Mainstream Media Radar.  Yeah, it\u2019s been seven long years since silver traded at $24, but now it looks as if it is just in the beginning stages of a new Bull Market.<\/p>\n\n\n\n

Last Friday, CNBC ran an interview with Bill Baruch<\/strong><\/em><\/a>, president of Blue Line Capital.  He said that when silver was trading at $22 on Friday, he expected more gains.  And, this precisely what took place this week.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

This is what Bill Baruch stated during his interview:<\/p>\n\n\n\n

Bill Baruch<\/a>, president of Blue Line Capital, expects more gains.<\/p>\n\n\n\n

\u201cI love the precious metals and have always said that you need a portion of your portfolio at minimum in precious metals, so silver has some room to run here,\u201d Baruch said on CNBC\u2019s \u201cTrading Nation<\/a>\u201d on Thursday.<\/p>

Baruch says the charts suggest $26 per ounce could be the next hurdle, a level of resistance stretching to 2011 that could now become support. If it moves past that, he says \u201d$30 could be in the cards, too.\u201d<\/strong><\/p><\/blockquote>\n\n\n\n

When Bill Baruch made that comment last Friday, silver was trading at $22.  I published the weekly chart below in my article last Wednesday titled, BULLISH MARKET UPDATE: Silver Price Gets The Green Light To Move Higher<\/strong><\/em><\/a>, showing the next target level of $26-$26.50:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

And, on late Monday night during Asian trading, silver reached a high of $26.27, in the middle of the $26-$26.50 target level<\/strong>.  However, in a very short period, silver sold off $4 before recovering back to $24.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

With the silver price up 30% in July, along with reaching the $26 target level, it seems like the next move is a correction lower, consolidation before the next leg higher.<\/p>\n\n\n\n

I replied to someone via my\u00a0SRSrocco Twitter Feed<\/strong><\/em><\/a>, why I thought silver had put in a short-term top:<\/p>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Massive Investment Demand Puts Silver Back On The Mainstream Radar With silver up 30% for the month, the shiny metal is now back on the Mainstream Media Radar.  Yeah, it\u2019s been seven long years since silver traded at $24, but now it looks as if it is just in the beginning stages of a new […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[730,12073],"class_list":["post-54464","post","type-post","status-publish","format-standard","hentry","category-economics","tag-silver","tag-srsrocco-report"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54464"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54464\/revisions"}],"predecessor-version":[{"id":54465,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54464\/revisions\/54465"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}