Silver is becoming harder to source. Delivery times are once again stretching out, and prices continue to move steadily higher. After being held artificially low for a long time, the market is starting to show strain. When large buyers ask for physical delivery, available supply can disappear very quickly.
This highlights the growing gap between paper prices and the real-world physical market. As immediate availability tightens, price is increasingly being driven by scarcity and short covering rather than trading volume.
Looking at the weekly chart, Fibonacci levels support the idea of further upside. A key retracement level sits around $51.81, with an extended target near $83.70. Since the underlying situation hasn’t really changed tight supply, longer delivery times, and strong physical demand, it appears increasingly likely that silver works its way toward the upper band as the first stage of this cycle.
I expect that in a worst case situation prices will settle somewhere between the high and low postulated above.
A Note on Risk
Silver is volatile, and it always has been. Strong moves higher are often followed by sharp pullbacks, sometimes with little warning. These dips are often caused by margin hikes, paper market selling, or short-term speculation being shaken out, rather than any real change in physical supply.
There is also the possibility of temporary price suppression through futures market activity or rule changes, which can stall momentum for a time. Broader market events, such as sudden changes in interest rates or currency strength can also cause short-term setbacks.
That said, volatility is part of the process. Corrections should be expected along the way, but they do not necessarily change the bigger picture if the physical supply situation continues to tighten.
The $100 Silver Window Is Closing — And Banks Are Banned From Selling Physical Silver
Regarding the overall economic situation in the US, above is a chart of the CPI (Consumer Price Index) over the past twenty years. This chart gives me no confidence that the FED is getting inflation under control.
Looking at it on a technical basis I see no indicator giving even a hint that the inflationary trajectory will be interrupted.
In my opinion this means more inflation for longer, a less valuable dollar, continued interest rate manipulation and a stock market stretched to unimaginable heights.
Low interest rates lead to unsustainable investments. When the market collapses, which it will, it takes down the good with the bad. If fortune prevails the precious metals and undervalued commodities will be less affected. They generally are sold off first in order to cover option and futures positions as they are easily liquidated, then recover relatively quickly.
PLATINUM
BUY: (28 November 2025) Platinum is performing as expected.
URANIUM
SELL: (15 December 2025) URA. It seems that there is a general down trend. Most indicators are negative.
BITCOIN AND GOLD
Bitcoin outperforms Gold (03 December 2025). 20.41 one ounce gold coins buys one bitcoin, this was over 41 ounces almost a year ago. The indicators point at a reversal here, but are turning back up. I would wait a week to see the outcome.
ETHUSD: SELL: (14 December 2025)
BTCUSD: SELL: 15 December 2025. NASDAQ (Cyan).
GOLD AND SILVER STOCKS
06 November 2025 Gold stocks outperform gold.
Silver outperforms silver stocks (08 December 2025). An early signal, let’s see if it holds. Holding very well.
GOLD AND SILVER
Silver to Gold Ratio
Silver outperforming Gold. (07 November 2025) When we think that silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 66.38:1 something is way out of kilter. Silver is an astounding buy at this time, even over $60.00 The ratio is falling showing the strength of silver against gold.
GOLD TO USD
Gold outperforms USD, (11 November 2025).
A LOOK AT THE GOLD AND SILVER CHARTS
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,320.00 | $4,217.00 |
| Silver Price | $66.10 | $62.28 |
| Gold:Silver ratio | 65.32:1 | 67.73:1 |
| Gold Miners bullish percent index | 92.59 | 85.19 |
| Dollar Index | 98.51 | 98.47 |
| Dow:Gold Ratio (BahaUS 47,959.00 Gold price, $4,320.00) | 11.10 | 11.39 |
| Current USA inflation rate (Dept. of Statistics) | 3.0% | 2.9% |
Gold’s low of the week was $4,271.00, and the high was $4,350.00, now trading at around $4,319.00.
- Gold Monthly: is a HOLD. We bought at $1,800.00 in October 2023. Looking overbought, but it can hold that situation for a while. No sell signal yet. We need to see a price over $4400.00 for me to relax a little.
- Gold Weekly: (HOLD 25 August 2025) Overbought. No sell signals yet. An unusual pattern. A definitive candlestick sell, then a recovery. Let us see if the recovery holds. The weekly chart is overbought, the rate of change is negative but no sell indications yet.
- Gold Daily: (HOLD: 12 November 2025). It almost looked like a sell on the daily chart, but the indicators are holding. We have sideways movement of the price, and some indicators are pointing to a sell. Gold is overbought. No sell yet.
The low for Silver this week was $60.78, and the high $66.89, trading around $65.93 at present.
- Silver Monthly: Hold. (Buy: $24.00 March 2024). Looking overbought. No sell signal yet.
- Silver Weekly: (HOLD: 25 August 2025). Overbought but still positive indicators.
- Silver Daily: HOLD (10 November 2025). Silver formed a cup and handle. This pattern completed, then the price blasted upwards. Even though it is overbought, there are no other sell indications.
Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama. Please contact us for more information.
A video by Mike Adams on the Goldbacks.
Well worth a look!
On the Stockcharts.com charts, the blue vertical lines are our proprietary system buy signals and the red vertical lines are system sell signals – for information purposes only
An interview with Josh, owner of Scottsdale Mint:
Please contact us to arrange the purchase and storage of your gold and silver requirements in a safe, insured location outside of your jurisdiction.
If you are interested in an overview of Fort Kobbe, you may want to have a look at this video: Mike Brown, Director, Fort Kobbe, International Vaults, A DotCom Magazine Exclusive Interview
This is my interpretation of the market and is not to be taken as financial advice. Before making any buy or sell decisions I recommend that you consult with your professional financial advisor.
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