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Silver Historical

Silver is setting up for the greatest breakout in the history of capital markets since 1972, when Gold broke out from an over 100-year-long base. 

Silver itself broke to new all-time highs in 1973 (circle). 

The historical chart dates back 170 years. 

Breaking $50/oz is going to be extremely significant and lead to spectacular moves and volatility.

Silver vs. Foreign Currencies

This chart plots the price of Silver against the inverse of the US$ index. It is monthly data.

Another way to look at it is Silver x US$. 

As we've said for years, Gold/FC has led the Gold price and so the same is true for Silver/FC. 

Much of the most recent move in Silver has been US$ weakness. It does need to strengthen against the other currencies. 

When it does....it's going to make a new all-time high before Silver does in $ terms.

Silver When Gold Breaks to New All-Time High

Here we show 1972 and the average of 1972, 1978 & 2009 and average of 1972 & 2009. 

1972 is not only the best historical comp for Gold. 

It is for Silver.

Look at how closely Silver has followed not 1972. It's not perfect but it's reasonably close.

Sponsor Companies

Equinox Gold, which has had struggles has completed its merger/acquisition with Calibre Mining.

The company has potential to grow production 60% in 2026 and is trading at a very low valuation (due to past missteps). 

Calibre are known as elite operators and intend to get the Greenstone Mine ramped up to nameplate capacity and ramp up the Valentine Mine to nameplate capacity in early 2026.

Chairman Ross Beatty has bought over $1.5 Million in stock in the market in recent weeks. 

Follow below for our interview with the company.   

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.

The stock doubled since we called it a buy on December 22, 2024. It is emerging from a complex bottoming pattern, which projects an upside target of C$2.60.

For more analysis of these companies and many more companies, subscribe to TheDailyGold Premium.

Silver vs. 60/40 Portfolio

This is a look at Silver against the conventional investment portfolio. 

This ratio is trading around a 5-year high but we cannot deem it a breakout until it tests the 2020 peak. 

The moving averages are aligned and sloping higher gently, mirroring the gentle rise in the ratio. 

The 2016 and 2020 peaks are close. So that marks an 11-year-long base of resistance. 

If and when the ratio surpasses that red line and 11-year-long resistance, it signals Silver is ready to challenge and break resistance at $50.

Silver is going much, much higher. 

Silver Daily Chart

I really want Silver to consolidate more, but unfortunately for me, it has formed a bull flag. 

Its recent breakout through $35 has a rough measured upside target of $41. 

The bull flag also projects to $41. 

And if you look at the weekly and monthly chart, $41-$42 is the last resistance between here and $50. 

In TheDailyGold Premium....

In TDG #942, a 23-page update, we added 2 companies to our Top10 Company Watch List and provided quite a sector related end of month and end of quarter charts.

We also noted two breadth statistics. 

The GDX Advance/Decline Line is sporting a positive divergence.

The other indicator, will give us a signal when to take more profits because of the risk of an intermediate correction for the sector.

We also noted a few tweaks to our portfolio. The buying of two silver stocks, adding to another silver stock and trimming tiny bits of a few big winners. 

In TDG #941, we assessed the upside potential of our Top10 Companies.

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Thank you for reading.

I wish you all the best in 2025 and beyond.