When will silver break out?
When will silver start a bull market?
Will silver ever be bullish given its tremendous lag compared to gold?
Watch out – start by asking the right question
What’s interesting about the conversation if and when silver will stage a bull market is that it’s not the right question to ask.
The data we’ll revise below make it clear - silver is already in a global bull market, since many months.
Questions like ‘if and when the silver bull market starts’ are not the right questions to ask. The initiate a conversation that is irrelevant, confusing, misleading.
It all starts by the foundational question – which data are we looking at?
When looking at silver priced in USD, it is understandable that a question like ‘when will the silver bull run start’ comes up.
However, when looking at silver in several other global currencies, we see a completely different picture – breakouts to new ATH are all over the place!
RELATED - Silver Reaches All-Time Highs in Most Global Currencies… Silver in USD is Next!
It reminds us the optical illusion mystery that we were taught at school. On the next picture, you can see a witch but simultaneously a nice young lady. All you have to do is change focus.
This is similar to the market story today – the silver story is a matter of focus.
When applied to silver, the question is in which currency are you assess the silver market?
- Is it just and only silver priced in USD?
- Are you looking at silver denominated in multiple leading currencies, beyond USD?
The latter will paint a completely different picture, similar to the optical illusion twist mentioned above.
Silver’s Hidden Global Bull Market
Interestingly, silver has been setting new all-time highs (ATH) in several global currencies, highlighting investor interest around the globe.
Whether this is related to the alleged silver suppression, currency divergences, or anything else, is completely out of scope of our work. It may even be completely irrelevant to investors.
What truly matters is that silver has printing a series of fresh ATH in currencies like the Indian Rupee, Australian Dollar. Moreover, in other global currencies like the Canadian Dollar and Euro, silver is inches away from hitting new ATH.
RELATED - Silver is long overdue for a big move
It becomes clear that the global investor interest in silver is very strong, much stronger than the silver in USD story makes us believe.
Featured Partners (Ad)
Let’s review the silver charts priced in several global currencies
The fact of the matter is that silver already made fresh new highs is quite some global currencies, especially but only the ones named above.
In 2024, silver has achieved new ATHs in several global currencies (chart courtesy – GoldChartsRUs.com).
- Silver in Indian Rupee (INR): In 2024, silver is hitting new highs in the Indian Rupee, driven by both retail investors and the public hoarding physical silver. This increasing demand reflects a growing awareness of silver's potential as an investment and a hedge against inflation.
- Silver in Australian Dollar (AUD): Silver priced in Australian Dollars has exceeded its previous highs from 1980 and 2011. The difference with India, mentioned above, is that Australia is considered one of the developed world economies. So, ATH in silver is not just an emerging market trend, it applies to developed economies like Australia but also Canada (next, below).
- Silver in Canadian Dollar (CAD): When expressed in Canadian Dollars, silver is just inches below its ATH. Current charts indicate that a new high is imminent. This upward momentum shows the potential for Canadian investors to see significant returns as silver continues to strengthen.
- Silver in Euro (EUR): Silver priced in Euros is also making significant moves, approaching its former ATH. It is hilarious how all focus goes to silver priced in USD, well below ATH, while silver priced in EUR trades a single digit below its ATH.
The list goes on and on.
What matter is this – the silver bull market is here since a while because silver is printing new ATH in several leading global currencies while it is very close to hitting ATH in some other global currencies (single digits below ATH).
Why Silver Matters
Understanding these market and chart dynamics is crucial for positioning according to the primary market trend.
The saying goes: “Don’t fight the Fed.”
We would add: “Don’t fight the primary market trend, and be sure to have the right charts in front of you so you can clearly see those dominant trends.”
While silver in USD may be lagging, the strong performance in other currencies illustrates that the global silver bull market is here for a while. The silver bull market has been forecasted to strengthen in the coming years, with silver reaching new ATHs in the latter half of this decade.
Although this prediction has started to materialize in global markets, it has not yet reflected in the USD price.
What matters most is the primary silver trend, which remains bullish despite the lack of new highs in USD. The technical setups in various currencies signal that silver is on the verge of a powerful breakout. As more investors recognize the potential of silver, especially in a world increasingly focused on inflation and economic uncertainty, the demand is likely to grow.
Conclusion - silver's current lag in the USD market does not diminish its value or potential as an investment. The strong performance in global currencies serves as a reminder of silver's potential. The highest probability outcome is that the global silver market continues to expand, and silver in USD will finally catch up. Augusta Precious Metals $0 (10 Years) $50,000 "Best Overall" by Money Magazine, Award-Winning for 6 Years, Thousands of 5-Star Rankings Goldco Vary $25,000 Industry leader with over $2 Billion in gold and silver. Top rated precious metals company with buy back guarantee American Hartford Gold Vary $10,000 American Hartford Gold, ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O'Reilly and Rick Harrison..Expand Details
Renowned for its exceptional customer service and commitment to transparency, Augusta Precious Metals has garnered numerous accolades, including "Best Overall" from Money magazine and "Most Transparent" from Investopedia. The company's dedication to educating and supporting its clients has earned it top ratings from organizations such as A+ from BBB and AAA from BCA.Expand Details
From precious metals iras to direct purchases of gold and silver, goldco have helped thousands of americans place over $2 billion in gold and silver. Top-rated precious metals company rated A+ by the better business bureau rated triple a by business consumer alliance earned over 6,000+ 5-star customer ratings Money.Com 2024 best customer service 2024 inc. 5000 regionals: pacific ranked #17 2024 gold stevie award, fastest growing company inc. 5000 award recipient, 8+ yearsExpand Details
With over $2 billion in precious metals sold, American Hartford Gold helps individuals and families diversify and protect their wealth. Their expert team provides investors with the latest market insights and a historical perspective, ensuring informed decisions. Trusted by public figures and praised for exceptional customer service, the company offers competitive pricing on top-tier gold and silver coins, backed by a 100% customer satisfaction guarantee
