Silver’s Highest Mid-Year Close Ever
Silver’s Highest Mid-Year Close Ever
Authored by GoldFix, ZH Edit
June 30 Recap
Silver just logged its second-highest quarterly close in history—only 2011 was higher. More significantly, this was the highest half-year close on record. Suppressed markets don’t usually allow this. Macro funds that chased gold’s record annual close may now eye silver next. A post-holiday surge remains a live possibility. Elsewhere, gold dodged shorts, with bulls needing a 50DMA reclaim by midweek to lock in control. Silver holds firm. Platinum weakens. DX teeters on key support—watch closely.The dollar closed the half year its lowest in 52 years according to ZH.
Silver on the other hand closed this quarter the second highest it has ever closed. That’s worth repeating: the silver market has never been permitted to close this high since the contract was invented, except only one other time, in 2011. Jordan of the Daily Gold and VBL will be sitting to discuss this Thursday as part of their month end wrap.
Less discussed but as important is the fact that this is the highest half year close for Silver of all time. When market suppressors are in control you do not see closes like this. The lid may be about to come off for Silver.
That makes for an open invitation for the same macro, discretionary funds who bought gold a year and a half ago when it made its all-time high yearly close, to step in and by Silver. Let’s see what next week brings after people are back from their vacations.
Silver on the Edge: BOA Says Silver to $40 in 2025
Silver’s Revenge Read full story
Nothing else to say today except: the wish made last night in About Last Night's Bear Attack for gold came true….shorts were “foiled” today. Gold must attain the 50dma in less than 3 days now for it to be a total loss for the bears from our pov. Meanwhile the DX should actually find support at my dotted line going back almost 6 months. If it does not, look out below!
We shall see.
Continues here
Free Posts To Your Mailbox
