Good Morning!

Before we get to Silver, 

Listen to my interview with Calibre Mining.

This interview contains chapters and provides a complete company outlook in 2025. 

Silver ETF Assets vs. All ETF Assets

We have showed the Gold and Gold Stock versions of this chart, which are more instructive because those are larger markets.

Nevertheless, it is interesting to see Silver's market share.

In 2011, Silver ETFs were roughly 1.9% of all ETF Assets.

Now, they are 0.2%. This is with Silver at $30/oz.

Where is the Silver price if this figure reaches 0.5%? 

Silver vs. Foreign Currencies

This is a daily line chart. It plots Silver against the inverse of the US$ Index.

It closed Tuesday at its 3rd highest daily level in 45 years.

If it closed at this same level on Friday, it would mark the highest weekly close in 45 years.

New Sponsor Companies

Calibre Mining (CXB.to, CXBMF) is a well run junior producer that is about to reach mid-tier producer status as its Valentine Mine in Canada begins producing over the months ahead.

The company produced 242K oz Au in 2024 and should come close to producing 500K oz Au in 2026, with potential to reach 550K oz Au in 2027.

GoGold Resources (GGD.to, GLGDF) is currently a small Silver producer with a pipeline of two development projects. Its CEO Brad Langille owns a large position in the company and has a very strong track record.

The company is attractively priced and in position to produce 9M oz Silver-equivalent/year in a few years, with another development project that could take it to 16-17M oz Silver-equivalent. 

For more analysis of these company and many more companies, consider TheDailyGold Premium.

Silver Sentiment

Below is a chart of the Silver Optix from SentimenTrader.com.

It previously was known as Public Opinion.

I threw in a 50-day moving average of the Optix and the two lines show extremes for the daily reading (~85%) and the 50-dma (~75).

The current readings are 73% and 64% for the 50-dma. 

So there is room to move higher before reaching an extreme. 

Silver Daily Candle Chart

Silver closed Tuesday at $33.37, finally punching through resistance at $32.50-$33.00.

The next target is $35.

The monthly and quarterly charts show $35 and $37 as significant resistance.

I would love to see this current move reach $37 and then the sector corrects for a while, setting the stage for what could be spectacular leg higher, across the sector.

In TheDailyGold Premium....

TDG #922 included a report on a Top10 Company which I will get to, but first....

Here is a paragraph from the summary of TDG #922:

People seem to be eager to add to positions or buy new ones but this is not the time to buy. ------ and ----- were up 50% since the very end of December. ----- was up 40% in six weeks. -----, ------ and ---- were up 50% since the end of December. 

Let them breathe. Let them rest. A few years ago I would dive into some leveraged plays at this juncture, but I’ve learned.

In TDG #922, we updated a report on another Top10 Company which is in a position to double its production over the next two years.

There are a few risks but the company has a very experienced management team and if they execute and current margins are maintained, it could rise 4x over the next two years.

We also adjusted our Top10 with the removal of one company (placing it on the Top10 Watch List) and upgrading a Watch List company to our Top10.  

Sometime over the next month or two we will provide on update on the upside potential for each company. 

Thank you for reading.

I wish you all the best in 2025 and beyond.