10.8.25 - Historic Gold Rally just heating up

10.8.25 - Historic Gold Rally just heating up

Gold last traded at $4,044 an ounce. Silver at $48.87 an ounce.

Why Silver Will Smash Through $50 -Daily Reckoning

Silver's rise in 2025 is hardly headline news anymore, it's become the new normal. As prices approach the $50-per-ounce mark, many see this as just another milestone on the path toward $100 silver and beyond; and I'd have to agree.

Silver is trading at $47.98 per ounce as I write this.

The all-time intraday high here in the U.S. was $50.36 way back in January of 1980. That was the peak on New York's COMEX (commodity exchange).

However, silver has never closed a trading day above $50. And that's the official measure of an all-time high.

Once silver briefly surpassed $50 in 1980, New York's COMEX essentially killed the momentum. COMEX executives decided that since the Hunt brothers were cornering the market, they would restrict trading to sell orders only.

And they jacked up margin (loan) costs for speculators, causing a cascade of selling. We covered this in detail in The Untold Story Behind Silver's 30x Move (recommended reading).

In 2011, we got near $50 again, hitting $49.82. COMEX once again decided to increase silver margin requirements, making it more expensive for traders to maintain long positions.

Fast forward to today, and we've come a long way in a short time. Silver is up nicely from $29.14 at the beginning of this year.