After five months of consolidation, many silver investors are growing frustrated, questioning whether silver will ever shine again. Analysis by Jesse Colombo
Colombo, a respected figure in the financial world known for his accurate predictions, believes that silver is undervalued and has the potential to reach $50 per ounce in the near term. He emphasized the importance of watching the spot price of silver, its price in euros, and his proprietary synthetic silver price index.
“Once these conditions are met, I expect silver to surge rapidly to approximately $50 an ounce,” Colombo stated. “The time is approaching when silver will finally break through and close above its $32.50 resistance level, sparking a significant rally.”
Key Takeaways:
- Silver is undervalued: Colombo believes that silver is currently undervalued compared to gold, based on historical trends and inflation-adjusted prices.
- Key resistance levels: Breaking key resistance levels in both US dollars and euros is crucial for a silver breakout.
- Synthetic silver price index: Colombo’s proprietary index is a valuable tool for confirming and anticipating silver’s price movements.
- Gold’s influence: The ongoing uptrend in gold is a positive tailwind for silver.
- Silver mining stocks: The performance of silver mining stocks can provide valuable insights into investor sentiment.
Colombo also highlighted the potential for silver to reach even higher levels in the long term. “The logarithmic chart dating back to the 1960s reveals a cup and handle pattern that suggests silver could reach several hundred an ounce during this bull market,” he said.
While silver has already surged nearly 50% this year, Colombo believes that this is just the beginning. He cited several factors supporting his bullish outlook, including the undervalued state of silver compared to gold and its potential to catch up with past inflation-adjusted peaks.
Personal Analysis:
Colombo’s analysis offers a compelling case for the potential of a significant silver price surge. His focus on key technical indicators and historical trends provides a solid foundation for his bullish outlook. However, it’s important to note that the market is unpredictable, and there are always risks involved in investing. Investors should carefully consider their own risk tolerance and conduct thorough research before making any investment decisions.
Full Jesse Analysis Video:
About Jesse Colombo:
Jesse Colombo, the writer of this newsletter, is a renowned precious metals analyst, investor, writer, and advocate for free markets and sound money with a substantial online following.
In 2008, he was recognized by the London Times for accurately predicting the Global Financial Crisis.
In this newsletter, Jesse provides in-depth reports on emerging economic bubbles worldwide, often overlooked but potentially dangerous. He also offers actionable analyses of precious metals and other markets.
Written by Eran Tal
