A$38 Silver does seem to be good enough

Readers can search ‘silver’ on my blog for a trail of my calls made.

In January 2023, I said A$34 was OK and $38 would be a ceiling.

Silver in AUD has seen the ‘fat part of the trade’

Since that note in January 2023, AUD Silver traded from A$34 to A$31 and then had a run higher (along with other precious metals) but only to a high of A$38.50.

Indeed, $38 is or was a ceiling, especially when coupled with the recent fervour from the Gold and Silver bugs.

Incidentally, I also wrote about selling AUD Gold exposure in late March, 2023.

Since that note (2 months ago), Gold in AUD hasn’t made any headway while USD Gold has declined 6% from its peak.

Sell AUD Gold exposure

And in mid/late April 2023, I highlighted Platinum’s run……It has since fallen 6%.

Gold isn’t the only precious metal

Today, I have no interest in holding any precious metals.

Sadly, someone bought Newcrest Mining at A$30.00 per share in amongst this hubbub, to only see the stock now trading at A$26.00 and subject to the prospects of acquirer Newmont’s stock price.

May 29, 2023

by Rob Zdravevski

rob@karriasset.com.au