by Jeff Berwick, Dollar Vigilante:
Back in 2008, silver fell from over $20 per ounce down to below $10. This was a stomach-turning experience for those who had begun investing heavily in the metal.
I heard reports of bullion dealers in the US who simply were not selling Monster Boxes of Silver Eagles. Physical metal was hard to find in spite of the price collapse.
That nadir didn’t last for long as silver obviously rebounded magnificently, teasing its old psychological record of $50 an ounce. Realistically, it took some time for silver to crescendo amid increased demand arisen from The End Of The Monetary System As We Know It (TEOTMSAWKI).
So, realistically, one could expect that silver would thus consolidate over a similar amount of time. And it did. Still is…
Please follow SGT Report on Twitter & help share the message.