Silver: Dry Kindling Awaiting A Spark

Other "straws in the wind" support the contention that the metals are priced well below where they "should" be. But given that today's metals' market is currently in a "show me" mode, it will turn when and where if feels like doing so.

But there is one thing we're pretty sure of. When gold and silver decide it's time to head North on a sustained, multiple-year basis, the biggest, lowest-risk profits are going to accrue to those investors who picked up some physical metal at modest premiums priced around current levels, a few carefully-chosen producers and streamers, and perhaps a "speculative" exploration play. If necessary, add scale down in tranches, with powder left over to pick up a crazy-cheap miner that gets knocked to the mat as the last of the "perma-bulls" coughs up the position.

In hindsight the precious metals bulls were correct for 11 consecutive years, the bears for 4 years. But the ball game is not over, so you might check the score and prepare for the end of the game. Based on trends already in place, this outlook  gives every indication of becoming the End Game of all end games.

Yogi Berra supposedly said - "Predictions are difficult, especially about the future." But there's one thing we're pretty sure of. In a few years, we'll be hearing from many of the people reading this report, and from a whole lot more - at the top.

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