Silver's extraordinary "rerate" to much higher price levels continued apace over the Christmas holiday, adding another $5 while exceeding $77 per ounce.
That's a rally of well over 100% since June, with silver's multi-decade $50 high left in the dust!
Silver has been moving into a new reality, having been mispriced at unsustainably low levels for years.
There are no technical resistance levels for silver on the charts and momentum seems to be increasing, not diminishing.
Fundamentals remain strong with ongoing production deficits and pockets of tightness popping up in major hubs such as London, Shanghai, and Mumbai.
Substantially higher silver prices in the near term is a possibility. What is certain, though, is greater volatility.
Not to be forgotten, platinum broke to new all-time highs last week and has similarly explosive potential. Gold topped its all-time high from October and appears ready for a new rally.
As exciting as the recent price action has been, it's prudent to avoid financial leverage and prepare mentally for large price swings, including to the downside.
Interestingly, silver mining stocks are barely keeping up with the metal itself. Given mining stocks are thought to provide leveraged returns, many argue they are still cheap.
Peter Bures, CEO of Silver Crown Royalties, explains why mining stocks may not be cheap anymore.
Money Metals is seeing a dramatic influx of first-time buyers this month, suggesting that recent moves in precious metals are finally being noticed by the American people -- the vast majority of whom have literally no exposure to precious metals whatsoever...
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