you go back and study silver on a logarithmic scale, that is just a price chart and gold on a logarithmic or ratio scale and you go back to 75 when they legalized it. Okay, gold had a corrective flow in 76 down near 100 bucks, 103 actually. In fact, I was standing next to the pit the day that occurred. It was in August of 73 uh in the ComX. Um, it went from $103 to $850 in three and a half years. That's an eight-fold move. Okay. And under conditions that are nowhere comparable to the what's


underlying the market right now in terms of massive monetary fundamentals. Then in 2011, after a 10-year runup, it had an eight-fold move from 260 bucks to 1920. Eightfold. Oh, interesting. Okay. Now we're four-fold. Our bare market low was in 2015 at $1,50. We've gained four-fold. Okay. Yet, the fun underlying conditions are far more serious and yet to be unveiled fully. Some people realize them. Continued layered approach to silver by most investors where they they doubtful every time there's a surge that is impressive.


Even though it was in the old range, the old 50-year antique range that it had been in, even those surges, they doubted. Oh, it's overdone. You know, RSI says this, that, and so they doubted all along the way. And the guy who did the best wasn't the guy who doubted and flinched at every downturn, but it's the guy who said, "Every time I get a 10 or 15% drop in silver, I'm buying more." Okay? He's the guy who did far better than the guy who was cautious, quote unquote. Okay, silver is in an


acceleration mode. It's not in a normal uptrend mode. So, if one applies the normal technical metrics that say overbought, for example, [music] ignore them. We're not in a normal market. a normal market meaning a normal bull market you know that goes up in layers or or trading range market that gets successes both ways. Silver is in a seeking a new reality market is what the phrase we use. It's going into a new reality and it's going to do it suddenly. Meaning by our metrics, not judging the silver by its own


dynamics, but the silver versus gold situation, which a lot of people plot the other way. You know, the the rate uh ratio, we we divide silver into gold and express the answer is a percent. >> Silver spent nearly half a century confined within a narrow valuation range, even as other commodities broke free. Gold surged in multiple cycles. Copper moved decisively higher, yet silver consistently lagged behind. History suggests that when markets remain mispriced for too long, they rarely correct in a gradual or orderly


way. Instead, the adjustment tends to be sudden and forceful. Silver now appears to be entering that kind of phase. Its recent behavior points to acceleration rather than simple trend following. This is not a typical bull market move. It represents a transition. Similar transitions in other commodities unfolded abruptly, catching skeptics offguard and forcing recognition only after prices had already reset higher. After decades of stagnation, silver may now be setting the stage for an equally dramatic repricing. And back early this


year, it was down to 1% silver ounce versus an ounce of gold, which if you go back 50 years, you see times when it's that low, you buy it cuz it's it's too low in relation to gold. In the 1979 to 80 move, which everybody remembers, that's when silver went actually from it had been in a low around three or four bucks and went to 50 over a couple years. A lot of that compressed in the last couple quarters. In fact, a four-fold increase in the final four quart two quarters of that move. And in 2001 through 2011, there


was another bull market, but a lot of it was compressed in a couple quarters in September of 2010 through April 2011 where several several doubled in a half in five months. Okay, but those were within that old range of reality. you know, the it's half a century of this. Okay, you've got some charts if you want to show them, but there there have been other markets that over history, rare events admittedly, but have been stuck in [clears throat] price ranges, copper's one, lead's another, we've


shown to our subscribers back in u this is just a good historical example. Copper was stuck in a range like silver between the 1970s, '8s, '90s, 2000 and 2005. The top of that range was about a buck 50. Okay? And it suddenly decided for whatever reason, unique to itself because it did it on its own. It was not coincident with gold. It was not coincident with other base metals. copper quadrupled in a couple quarters and then subsequent to that, yeah, it overshot, you know, no it's no new


normality, but it it moved out of the old multi-deade range and did it like bam. >> There is clear historical precedent for what silver appears to be doing now. Copper traded sideways for decades before suddenly quadrupling within just a few quarters during the mid 2000s. Lead followed a similar path after nearly 40 years of stagnation. These moves were not slow or orderly. They were explosive. When markets finally recognize that they have been deeply mispriced, they often overcorrect to make up for loss time. Silver fits this


pattern closely. It failed to participate in earlier commodity breakouts which increases the likelihood that its eventual repricing will be more abrupt and forceful. Once these shifts begin, they tend to ignore conventional expectations and push through technical resistance with little warning. >> Not in an incremental layered manner. Lead did the same thing in 2007. It had been in like a 40-year range and it said, "Oh, okay. I shouldn't have been here that long. I'm price too low


relative to say degradation of the money unit." So, it did the same thing. It quadrupled in a couple quarters in 2007. and then subsequently lived in a new price reality that was roughly four times the price level of that average old price reality. Okay. Well, silver's been in that reality for 50 years. Why didn't silver coincent with copper in 2007 or 2005 or lead in 2007 or gold in its repeated eightfold bull markets goes well past the old high and yet silver stays in the box. What's


going on there? you know well there's arguments that you know it's been artificially retain restrained and so forth but forgetting that when a market decides to say hey you know I made a mistake it quite often will compensate for the mistake by repricing itself rapidly this is true with like bull market bubble tops like in the stock market sometimes it crashes okay it compensates for it and overd does it well silver saying hey I'm out of here and the momentum already said that back In June, we said, okay, when silver was


coming up toward that mid $30 level, it been 35 and 35 in 2024 and 2025 early. And silver drop down under 30 again, and it's coming back up in June of this year, and it was in the mid-30s, and we said, "Uhoh, this time it's different. You're going to accelerate." >> Don't miss what's coming next. Subscribe now and stay ahead.