SILVER'S SURPRISE
During one recent week in early June, we bought back more silver and gold than we sold. In 53 years of business, that was a first. We don’t want to encourage anyone to sell their silver, but we want to reassure our clients that we will buy it back when they are ready to sell. Things are returning to normal as silver continues to edge up in price.
While we haven’t got the price explosions that silver analyst Ted Butler wrote about, we have had decent appreciation. One year ago in June, silver was $29.45. Two years ago, it was $23.88. Three years ago, it was $21.99. Five years ago, it was $17.43.
Hopefully, over the long-term, silver will continue these positive trends. It’s always possible that Ted Butler’s bullish forecast will kick in. I can tell you I bought more silver this month, because I think it’s grossly undervalued. Furthermore, a lot of bullish articles extol silver’s virtues, so if you buy it, you aren’t alone.