저자: Money Magnates · 외국인
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This is a real black day when it comes to the gold and silver mining companies. They are going to make a fortune based on the moves that we saw today. Silver ended a great week and a great month up over $3 an ounce. New all-time record high. We're trading above 5630. I think I just saw it trade above 6 5640.
I was watching March futures and there the contract was trading well north of $57. So we're blowing through uh the high the previous record high that we set about a month ago or so was around $5440ish. So we went right through that through the 55 handle and then through the 56 handle. Gold not too shabby either up better than $60.
I think I just saw it up $65 trading at $4,220. It's not a new record high. Uh but it's getting close probably on a monthly basis because this is the last day of November and on a monthly basis. It probably is a new high for the month. In fact, it may even be a new high for the week. I'm pretty sure that it is.
In fact, looking at how the precious metals have performed, silver up 6% today, which is, you know, startling by itself, but it's up 13% on the week, 16 12% during the month of November. What a November to remember. But I think we may get an even more memorable December because I think we're going to get a big follow-through year to date.
Silver is now up 95%. Think about that. And the year isn't even over. We still have another month. So, I think we're going to end up with a double in the price of silver in 2025. Gold up about 1.3% today. on the month up more than 6% and on the year still up better than 60%. But silver is now outperforming gold year to date by about 50%.
Now this is something I have long been forecasting on my podcast and on these weekly market wraps. I've been saying that silver would eventually wake up from its slumber and take the lead and outperform gold. And that is exactly what it's doing. That's why I've been so bullish on silver. And I've been recommending that all of the shift gold customers buy silver too, not just gold.
In fact, I've been recommending more silver than gold uh this year for the specific reason that silver was so cheap and you had a long way to go to catch up. Now, it's still cheap. Clearly, not as cheap as it was, but I think we have tremendous upside potential. I think silver could trade $100 an ounce by next year.
I don't expect gold to make that large a percentage move. Although I do expect gold to be above 5,000 next year. So, both metals should still be purchased. Uh, but I still think that even with this move, you still want to make sure and be buying some silver along with your gold. And the fact that silver is now leading gold higher, this is very bullish.
This means that the precious metals bull market is much stronger because in the past gold was leading silver. In fact, it was dragging silver almost kicking and screaming like it didn't even want to go up. And that was one of the negative divergences in the precious metal space. People would be doubting the gold market because they weren't getting the confirmation from silver.
Well, now we've got that and then some. We've got silver even stronger than gold. That's what you want. This new leg of the precious metals bull, which is being led by silver, is going to be even stronger. So, gold is going to make even bigger gains now following silver than it did when it was leading silver.
Uh divergence was the failure of the mining stocks to perform. Well, that's all changed. They've had a great week. The GDX up 13% on the week. The GDXJ up 16.3%. But more important, the year-to-ate gains in the GDX at 145% and the GDXJ 157%. That's why in Q1 of this year, if you remember, I came out with a special report.
The best way to buy gold and it was to buy the mining stocks. And at that point, the mining stocks had barely moved on the year. And now we've got this spectacular gain because it was crazy to me that we had $3,000 gold, yet the gold stocks had made no progress since 2000. We had a 50% increase in the price of gold and the miners had barely moved.
I knew they would catch up and they have caught up. But more significantly for gold and silver is the fact that the gold and silver mining stocks were lagging, right? They were not confirming the move in gold. That was a negative before. Just like silver wasn't uh validating gold's new highs, neither were the mining stocks.
And a lot of people looked at the mining stocks as an indicator and they didn't believe that the gold rally was real because they weren't seeing it priced in to the mining stocks. And I kept saying that you should ignore the weakness in the mining stocks because they reflect the uh views of the Wall Street analysts who didn't understand why gold was going up and they didn't expect it to keep rising and so they didn't factor higher earnings into the gold stocks.
In fact, because they all expected gold prices to collapse, they thought that the gold stocks would go down even more. And so that's what kept them on the sideline. But now it's clear that we have confirmation. The gold stocks are not lagging. They're also leading. They're now outperforming gold, which is exactly what should be the case in a healthy bull market.
So we've moved from the early stages where it's just complete denial to the next stage. We're not even near the final stage. So, don't even think that, oh, it's it's too late to get in, you know, now it's a blowoff top. We're we're years away from that. The general public is completely asleep. They have no idea what's going on.
There's really no media coverage whatsoever uh about the precious metals or the mining stocks. They're still fixated on fool's gold, on Bitcoin. By the way, Bitcoin was basically flat on the day and it's down 4% on the year with gold up 60%, silver up 95%, Bitcoin is down and it would have been down more if it didn't pop back about 7 and a half% this week uh off the lows.
And of course, the poster boy for the crypto industry, uh, Michael Sailor and his strategy company, Strategy is down 34% this month in the month of November. And year to date, it's down a little bit more, closer to 40%. It's down 60% from its high a year ago. In November of 2024, you're down 60%. and strategy is off the lows because a few days ago it was down 70%.
This is a major bare market. But this is also very bullish for gold and silver because Bitcoin and the whole crypto space was stealing their thunder. People were buying uh Bitcoin treasury stocks uh or Bitcoin mining stocks and not gold and silver mining stocks. Why? because they were looking in the rear view mirror instead of through the windshield and they saw this big, you know, outperformance in the past and they just assumed that that would continue.
And so it was hard for the metals and the miners to gain any traction uh when they had to overcome well look at how much better uh crypto has been. Why should I buy gold and silver? Why should I buy these mining stocks when I could buy strategy or I could buy a Bitcoin ETF? Well, now that's all changing.
Now people are seeing losses, huge losses in cryptoreated companies. And while the losses aren't huge in Bitcoin yet, although if you bought near the peak at 125, 126, and now we're back down around 90,000, by the way, the low for Bitcoin this week, I think earlier was 80,000, right? So we were down, I think, better than 36% from the peak.
So Bitcoin's in a bare market. Bitcoin stocks are in a ferocious bare market, not just strategy. In fact, a lot of the companies are doing much worse than strategy, down 70, 80, 90% or more. So, you're getting complete decimation in the crypto space. Meanwhile, gold, silver firing on all cylinders. Massive bull market. New record highs in silver.
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