Silver One Year After The Peak: On The Brink Of The Next Big Move
By Eric Parnell:It was exactly one year ago this weekend. After a seven-month meteoric rise that began the moment Ben Bernanke completed his now legendary Jackson Hole speech in late August 2010, Silver reached a climatic peak on April 28, 2011. The year that has since passed has been far more humbling for the white metal. But with speculative cleansing comes new opportunity. Although the price activity in Silver is now relatively calm, we may soon be on the brink of its next dramatic move.
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The Silver price peak that occurred one year ago was particularly notable from a historical perspective. This is due to the fact that Silver skyrocketed to virtually the same exact high just below $50 that was first reached back in January 1980 when the Hunt brothers attempted to corner the market. Within two months after this previous peak in 1980, Silver lost over 75%Complete Story »