{"id":55191,"date":"2020-10-02T07:11:07","date_gmt":"2020-10-02T12:11:07","guid":{"rendered":"https:\/\/olduvai.ca\/?p=55191"},"modified":"2020-10-02T07:11:07","modified_gmt":"2020-10-02T12:11:07","slug":"the-former-industrial-metal-the-silver-price-surges-as-copper-oil-get-crushed","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=55191","title":{"rendered":"THE FORMER INDUSTRIAL METAL: The Silver Price Surges As Copper & Oil Get Crushed"},"content":{"rendered":"
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THE FORMER INDUSTRIAL METAL: The Silver Price Surges As Copper & Oil Get Crushed<\/a><\/h3>\n<\/header>\n
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The notion that silver is just an \u201cIndustrial Metal\u201d was utterly destroyed today as both the copper and oil prices were crushed as silver surged higher.\u00a0\u00a0This is precisely what I was looking for as a positive sign showing that silver is now disconnecting itself from the INDUSTRIAL METAL BALL & CHAIN.<\/strong><\/p>\n

While analysts will continue to regurgitate that the future silver price depends on industrial demand, we can now take this analysis and throw it into the dustbin.\u00a0 The world is heading into a new paradigm of \u201cBuilding Wealth to Protecting Wealth.\u201d\u00a0 And let me tell you, you cannot protect wealth in most STOCKS, BONDS, or REAL ESTATE.\u00a0 Those days are over for good.<\/p>\n

Unfortunately, 99% of investors still haven\u2019t figured that one out yet\u2026 but they will.<\/p>\n

Today, it was quite an impressive day for silver (and gold) as the metals surged higher while copper, the king industrial metal, got destroyed.<\/strong>\u00a0 Here is a chart of the copper price versus silver.<\/p>\n

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As we can see, copper is down 5% while silver is up 2%.\u00a0 Thus, the leading indicator of the global economy, COPPER, just put out a very BAD SIGNAL, indeed.\u00a0 Now, if silver was just a mere industrial commodity, why didn\u2019t it\u2019s price follow along with copper???<\/p>\n

And, if that isn\u2019t bad enough, take a look at the WTI Oil price.\u00a0 The West Texas Intermediate oil price was down 5% as well.<\/p>\n

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With the U.S. oil price falling $2 in one day, that just wiped out $21 million in oil revenues to the oil companies.\u00a0\u00a0This is also terrible news for the U.S. Shale Oil Industry is being held together by DUCT TAPE, BAILING WIRE, and ELMERS GLUE.<\/strong><\/p>\n

Today, I also posted the broad selloff in oil on my SRSrocco Report Twitter feed:<\/p>\n