Silver will be first element in periodic table tha
Featured is the daily silver chart. Buying interest in physical silver at 26.00 is providing a floor that has held since October. The CCI at bottom of chart has turned positive (green uptrend line). The silver price is breaking out at the green arrow. The RSI at top of chart displays a bullish inverted ‘head and shoulders’ pattern with the neckline at the blue arrow. This neckline appears ready to give way to the upside. The fact that silver was able to outperform gold on Monday, July 30, is a bullish omen. According to the USGS the total amount of silver mined in history is about 46 billion ounces. This compares to about five billion ounces of gold. This ‘mining ratio’ is 9 to 1. The current ‘trading ratio’ is 57 to 1. The ratio is clearly out of whack. In view of the fact that most of the silver consumed by industry is ‘used up’, the expectation is that the ratio could narrow dramatically in the years ahead. Silver usage in the solar industry is expected to rise to 100 million ounces by 2015, compared to 50 million ounces in 2010 (source: Silver Institute).
https://www.stockhouse.com/Columnists/2012/Aug/1/Gold-silver-could-be-setting-up-for-a-big-month
According to the Financial Times of July 19, the Shanghai Gold Exchange on August 31 will open to investors from many parts of the world. At the present time this exchange is open only to a few selected parties. By opening up the exchange, the gold exchanges of London and New York will face some serious competition.
This chart courtesy Sprottphysicalbullion.com shows the premium of PSLV over bullion. By comparing this chart to the PSLV chart above, we find that when the premium rises to 25% or higher, it is time to take profits. When the premium drops below 5% (as now), it is usually a good time to buy silver. According to the U.S. Geological Society: “Silver will be the first element in the periodic table that will become extinct.”