In a recent interview with Kitco News, Smirnova said silver’s price momentum has been building for some time, but the key threshold was crossed in the early summer. “I think the important date was in June when silver broke through $35,” she said. “What has been building up to this point?
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Although silver has not been tariffed because of its precious metal status, much of the metal has remained in the U.S., as its growing importance as an industrial metal has made it a critical commodity that could face new tariff threats.
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Party on!! And so for silver, forget the SMA 200, the gap, and the would-be deeper Fibonacci retrace levels. The double top, complete with negative RSI divergence, played out to the 50 day average only before ramming to a new all-time high. I added PSLV after making the Nov. 26 update linked above.
Since the release of the 2024 Silver Yearbook, the silver market has seen prices rise sharply to record levels and then decline significantly, only to rise again in the first quarter of 2025, and fall again in April.
