iGold

What will be the result of this developing short squeeze?

While silver rising back to $50 again (the 2011 peak) and possibly beyond may fit in with our long-term expectations, let us focus on the intermediate-term projection for the pending squeeze that we can calculate based on observable data. For that, we turn to the charts.

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From the panic low of the Coronavirus scare last March when silver bottomed at $11.30 to its inflation-induced peak at $29.82 in August, silver prices rose an incredible 163% during 2020 in less than five months. Yet as this article is going to press the day of the US inauguration, silver is trading just above $25.50 per ounce. In other words, since the August peak, silver has done nothing but fall by 15% over the last five months.

So what is ahead for silver as 2021 gets underway? Was the advance of the first half of 2020 a sign of things to come? Or is silver set to continue declining as it has done since the peak last August?

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As precious metals investors, it can sometimes be difficult to tell whether major world events are positive or negative for the prices of gold and silver.

However, a repeating pattern is now playing out in the gold market – a pattern which also appeared once before, nearly 10 years ago – which suggests that recent world events will be highly supportive for gold prices in the future.

Let us examine these world events and then turn to our expectations for gold prices in 2021 and beyond.

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