Silver outperformed gold and the stock market at least a decade after the major interest rate bottom. There is also a very good chance that this will be the case again.
The Sound Money Index is designed to evaluate and rank each U.S. state based on how friendly their laws and regulations are towards gold and silver. The index uses 14 different indicators to assess the extent to which states support sound money principles.
The best performing precious metal for last week was silver, up 6.56%, which can be an indicator of speculative interest being revived in the precious metal trade.
All that’s needed now is a big burst of volume, and silver could charge through the $30 resistance zone like a bull era tank driving through a rancid fiat butter wall.
This is the critical point in the cycle. From this point debt and debt-based assets get destroyed while silver prices see some real stellar increases. This point cannot be stressed enough, since debt or credit is what this current world is built on.
Silver fell this past week, despite as we noted a weaker than expected jobs report and a weaker US$ Index. Silver lost 2.1% as it continued to test $26.50 support. Further support can be seen to $26, but under that level the current rally becomes more questionable.
Adventus Mining Corp. has closed the previously announced private placement of 67,441,217 common shares of Adventus at an issue price of 38 cents per common share to Silvercorp Metals Inc. for aggregate gross proceeds to Adventus of $25,627,662.
