Hello everyone, welcome to Bald Guy Money. And silver just made its largest single day move up since January 2nd, 1980. up $7.52 per ounce on the day this past Friday, $1216 per ounce on the week, and up $22.93 in the month of December so far. Which means the price of silver has increased more in US dollar terms than what it costs to buy a full ounce of silver at the average price in 2022. So, this is a massive move up for silver in the month of December. And this move has catapulted Silver to the number three
spot on this list of top 10 assets when ranked by market cap that we like to track here on the channel with only Nvidia to beat now. And it's not far behind with gold and silver together now making up 60.4% of the value of all the things on this list. And I'll repeat what I've said about this before, that it is happening during a major technological transformation with AI stocks booming. And whether that's a bubble or not, it just shows us how important gold and silver are as they grow their value
relative to these high-flying tech stocks. with even Elon Musk taking notice of what's happening saying that recent developments that are pushing silver price up are not good due to the importance of silver in many industrial processes which has some people concerned about incoming price manipulation. Now, in this video, I want to try to make sense of all of this, starting with a quick gold and silver status check. And what's happened since I told you all that the upside opportunity for gold and silver is much
higher than the downside risk. Once that's covered, I want to dig deeper into the topic of silver and cover what both buyers and sellers of silver need to know before they make their next move. and we'll finish this video on the topic of platinum, my latest outlook on the metal, how it stacks up against gold and silver, and it's going to be the last time I cover platinum for a while. So, be sure to watch that. Now, just before we dive in, please check out summitmetals.com for great prices on
gold American Eagles and 1oz Krueger, which are selling at a great price right now at only 1 and a.5% above spot as I am recording this video. And while you're there, if you're new to Summit Metals because you want to support the work I do here on YouTube, remember that new customers get this 5 silver package at Spot. And I'll leave the link to that in the video description below. So, about 2 weeks ago, I told you all that despite the speed at which gold and silver prices were moving up, there was
still more upside opportunity than downside risk. And sure enough, we've seen that upside opportunity start to materialize with gold breaking out to new all-time highs and silver crushing the price level I told you all to keep an eye on, which is perfectly fine as these targets are never meant to be seen as ceilings, but rather achievement levels that I can confidently say we will reach. Now, as far as things stand today for gold, nothing has changed. And I think we are building up for a much
larger move to the upside for gold on our way up to $4,800 an ounce and eventually higher. And we'll talk about that more a bit later. But for silver, the picture is far more complicated. And as I said in the video's intro, it's got some people concerned that what Elon Musk was talking about in his post on X about things not being good for silver was an incoming price manipulation to keep silver price cheap, especially for the military-industrial complex. And what I can say on that topic is that
it's been taken wildly out of context because what he was really referring to in the post are export restrictions being put on silver coming out of China starting January 1st, 2026. So, just a few days from now, which by the way, we've known about since October and was followed by the United States adding silver to its critical minerals list only 7 days after the announcement was made and now has the market scrambling to secure physical silver supplies. draining bullion vaults all around the
world as the deficits people like myself and others out there have been talking about for years now finally start to impact the price of silver because paper trading as most of us knew already before was never a fair representation of the physical silver market and rising prices are just a reflection of how tight the physical supply of silver really is and it's the availability of the metal that's got people like Elon Musk concerned a lot more than just the price going up. And it's a situation
that is so urgent that this past Friday, only one day after Christmas, when we typically see trading activity for silver at roughly 50% of what it is on a normal trading day, that silver put in new trading volume highs, suggesting that the price move that silver is making right now is a sustainable one based on real demand and need for silver in the market. And that's how I interpret Friday's move. That said, it doesn't mean that there isn't any speculation happening in the market
right now. And much like we saw some volatility in the price of copper in July and August of this year on the back of US tariffs on copper that never really materialized, I think we may be entering a 1 to four week period of massive volatility in the price of silver. And the fact that spot price for silver, so the price for silver right now finished above the futures price for silver is one reason why I say to expect that volatility. Now this is called price backwardation. And I know a lot of people online like to celebrate this as
a good sign, but as I've warned you all before, this is very often a sign of heavy price speculation. And that's money that doesn't usually stick around for very long and leads to big price moves up and eventually big price moves down. In addition to that, at the end of the day on Friday, we also saw a small spike in short sale volume on the PSLV ETF, which indicates more bets against the price of silver and is an indicator that spiked up leading into the October price volatility, but had been
relatively quiet since. So to summarize what this means for the regular person watching this video right now who may be trying to sell silver at the best price or trying to buy silver at the best price. Let me start by saying any corrections or pullback in the price of silver is going to be quick. Just like we saw when the price moved from $54.50 an ounce down to $45.50 50 cents an ounce and then back to new highs that lasted only 42 calendar days earlier this year. And with everything happening
right now, to be honest, I wouldn't even expect a pullback from current highs to last that long. So, if you're a buyer and if we see a pullback, which you have to understand is possible, even probable after seeing such a huge single day move up like we saw this past Friday, I wouldn't hesitate to buy silver at $72 an ounce. And that includes silver miners for those of you who are into the mining stocks. And I'd set aside a budget right now to be prepared to act if that happens. Because for people who
are on the sell side of silver, I want you all to know that everything is still pointing to $100 an ounce for silver right now and likely even higher than that, especially over the long term. And although my price target for 2026 remains at $9968 an ounce, which as I said before is not a ceiling, we may be seeing that number very early on in 2026 as more interest rate cuts are expected. Real one-year interest rates are moving into negative territory. And the US dollar, which has fallen 10% in value in 2025 relative to
other currencies it's measured against on the DXY dollar index, is poised to make its next move down, which will drive metals prices even higher. and the gold to silver ratio, which is still above 50 right now, much lower, telling me that anyone wanting to sell their metals right now had better hold on at least to some of them because higher prices for metals, both gold and silver, are on the way. Now, just before we get to the topic of silver versus platinum, please remember that it's not only gold
and silver I own to protect myself, but it's also land that you can stand on, grow things on, and even hunt on until the end of the year. or so for four more days. Channel partner landofland.com is waving premiums and documentation fees for my viewers on any property you win at auction with payment by credit card and option for anyone who wants to do that with Land of Land delivering the title deed to you within weeks of finalizing the sale. So, I will leave the link to their auction in the video
description below and you can also reach them at the number on the screen if you're interested. But remember, owning hard assets that cannot be printed by the Federal Reserve is the best prep you can make and the best time to make it is before the Federal Reserve starts printing. So, moving on to this video's viewer question, and it's on the topic of something I am getting asked about a lot lately, and that is platinum. And to answer your questions, not only do I want to give some updated analysis, but
I also want to put it up against gold and silver to have a real discussion about diversification and the role of these metals in a portfolio. And to get us started, here is what I said about platinum on August 24th right here on YouTube. Although I have to admit that recent developments and use cases for platinum make a compelling speculative case for the for the metal, I think you have a better chance of seeing those gains play out in a shorter period of time on silver than you do on platinum,
considering the industrial and investment demand factors that are influencing silver price right now. So, as you heard, my outlook on platinum was actually positive. And that's a continuation of what I've been saying since earlier this year when I had a conversation with Rick Rule and said platinum looked poised to break out. So, please don't misinterpret that part of my message. That said, silver, which was just recently added to the US critical minerals list and is finally breaking
out in all currencies around the world, has significantly outperformed platinum since that August 24th video, continuing a trend that it started all the way back in 2003 and has resulted in a 79% decline in the silver to platinum ratio with only 30 ounces of silver needed to buy an ounce of platinum today versus 140 back in 2003. Now, that isn't to say that trends don't reverse and we may be at a reversal point for platinum versus silver right now, indicating that platinum is poised to start
outperforming silver very soon. I keep the door open to that possibility, especially with platinum demand remaining very stable as new uses for the scarce metal come online, most notably in PEM fuel cells for hydrogen-powered drones. But even with platinum having a moment right now, I simply don't think you have to own every metal known to man, just like you don't have to own every single mining stock that's going up right now. Picking the best ones is enough. And with silver and gold outperforming platinum over the
past 5 years with all three of them admittedly doing very well significantly outperforming the S&P 500 which is only up around 100% including dividends over the same period of time. The point is you haven't lost out on focusing on gold and silver and in fact silver of all the metals here is the clear winner. Now, switching over to a shorter time frame showing how platinum has outperformed gold in 2025, just so I don't get accused of cherry-picking the data. Something we need to keep in mind when
purchasing physical platinum is that it's not widely recognized as money. It's harder to buy and sell than gold and silver are. And although it's getting some attention right now and it's exciting to jump in with price going up, there are plenty of people who have commented on my videos over the years who have complained about how hard it is to sell platinum during a bare market. Because once the big gains slow down, people lose interest. If you're stacking physical metals as an insurance
policy or an emergency savings fund, having your metal be widely recognized and easily exchanged is a must-have feature that platinum doesn't always have. In addition to that, platinum unlike gold in its role as the world's reserve asset or silver in many of its industrial applications, platinum has a substitute and that's palladium which according to the data you can see here is moving to supply surplus in 2026. And if the deficits or shortages for platinum, which are expected to persist
out to 2029, bite hard enough, we should expect to see some substitution of platinum for palladium as platinum price rises relative to palladium price, which is one reason why their prices often crisscross as one is substituted for the other. So, as we zoom out on the performance of gold, silver, and platinum since 2000, where one could easily point to how gold and silver have delivered much better performance over the past 26 years, you could just as easily make the argument that platinum is undervalued and has catching up to
do. And since I don't think the dollar or any fiat currency is going up in value relative to platinum anytime soon, holding physical platinum, even as a speculative hold, is definitely better than saving cash. But if your position is that owning physical platinum is speculative in nature to benefit from some kind of capital gain, which is what many people say it is, and I'm fine with that because even Rick Rule said it on my channel back in April this year, why not skip the premiums and liquidity
issues that come along with owning physical platinum and speculate on platinum mining stocks that you can buy and sell with the click of a mouse. Because although I don't own them, as my speculative focus has been more on silver miners, which have been outperforming basically everything lately, if all you want is the capital gain, then the miners will likely outperform physical platinum on the way up and leave you an easy exit at the top or on the way down without any fear of having to accept less than fair market
value, which has been the case for many physical platinum stackers, especially during the most recent bare market. Now, of course, that's just food for thought. I understand some of you are against owning stocks in the first place and prefer to hold the physical metal in hand. And again, I am perfectly fine with whatever it is you choose to do. But if you insist on owning physical platinum and you are focused on its upside potential as the reason why you want to own it and you also think that
silver price will beat the 1980 intraday inflationadjusted high and I know it's many of you out there you need to know this. You need to know this mathematical calculation to make the decision of what metal to choose easier for you. Because measuring where we are today, if we take the 1980 inflationadjusted intraday highs for both platinum and silver versus today's spot prices, and we assume that both of those metals will reach those inflationadjusted highs in the same amount of time, that gives you
a 152% upside for silver versus 77% for platinum, which if this is the logic you're using to help guide some of your price targeting, It should tell you that silver still has much more upside potential than platinum. And that is something I agree with wholeheartedly. And it's why I look at a dollar spent on platinum as a dollar not spent on silver. So with that said, I hope that answers your questions on platinum as well as where we are with silver right now. Expecting potentially a little volatility over the next week
to four weeks with much more upside on the way. And with that said, I want to wish you all a happy new year coming up very soon. This will be my last video for 2025. I appreciate each and every one of you who have made the time to watch all of my videos this year, as I know some of you have. Thank you. Thank you very much. And if you think my message is an important one, please remember to leave a like below as that helps YouTube suggest this content to other people. And please remember, if you have family or friends who need to
hear this message, don't be shy. Please share this with them as well as it helps my channel grow. And with that said, once again, wishing you all a happy new year. See you in 2026. Take care of yourselves and take care of each other. Goodbye.
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