Beginning of the end for silvermania?
Is Silver to top out, or will the squeeze move the precious metal over 50 Usd? Despite two margin hikes this week, silver is very close to 50 Usd. Let us see next weeks action.
“We’re concerned because the rate of ascent in silver prices keeps accelerating,” said Mark Thomas, chief investment strategist at TheSilverShortage.com, which offers a newsletter about silver and silver mining investments. “A parabolic move like that can ruin any bull market short term.”
“We have now entered just the beginning of the third [and final] phase of the bull market in precious metals” — the phase in which everyone has become aware of the bull market but aren’t yet engaged and involved in it, he said. The third phase is far from over but when it ends, “precious metals will become a bubble with heavy public participation.” (Marketwatch)