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Today’s issue of G&S Central could be called The Silver Issue, as the gray metal dominates the precious metals headlines right now.
The Reddit investor horde has a lot to do with this—we cover that along with Jim Rickards’ thoughts on the silver spike, and much more.
Let’s dig in…

Price
Silver Price Spikes on the Open, No One Surprised
Aaannnddd they’re off!! Silver spikes on the open, but no one is shocked. That’s a good start and all the major online dealers are sold out and APMEX is not accepting any new orders. SDBullion delayed taking new orders until the opening that just happened. Here’s a static image from the beginning to the end:
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Latest News
Silver Gets Second Boost from Reddit Investors
Silver jumped for a second day on Friday as the market remains on high alert after a call by Reddit Inc posters to create a short squeeze sparked sharp moves on Thursday. Silver for March delivery rose US$0.99 to US$26.91 On Thursday, silver miners’ shares spiked and the largest silver exchange-traded fund, iShares Silver Trust, saw a frenzy of options buying after the market emerged as a target on the Reddit forum r/wallstreetbets. The moves “have been extreme in some cases and have had little fundamental justification,” Eugen Weinberg, an analyst at Commerzbank AG, said in a note.
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Commentary
Gold Price Rides Silver’s Attention Wave—Is This a Good Thing?
Friday’s rally in precious metals saw gold rise more than 1% and silver rally more than 5% on the day. But this time around, it is gold chasing silver, as the latter sees a wave of new interest. “We had a nice move in silver and gold. It seems like there are a lot more silver enthusiasts out there now,” said TD Securities global strategy head Bart Melek. Usually, silver follows in gold’s footsteps, but not this week, analysts told Kitco News.
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Latest News
Reddit Crew Shifts to Coins, Brings Silver Retail Sites to Grinding Halt
Retail sites were overwhelmed with physical demand for silver on Sunday, suggesting the Reddit-inspired frenzy that roiled commodities markets last week is spilling over into physical bars and coins. Sites from Money Metals and SD Bullion to JM Bullion and Apmex, the Walmart of precious metals products in North America, said they were unable to process orders until Asian markets open because of unprecedented demand for silver. Premiums on American Eagle silver coins have risen to close to $5 from a normal level of $2 over the past three days, according to Everett Millman at Gainesville Coins in Florida. His company’s website has a notice saying orders are taking longer than normal to fulfill.
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Economy
Powell Sends Dovish Signals at First FOMC Meeting in 2021
The first FOMC meeting in 2021 has concluded without any changes in monetary policy, while Powell sent a few dovish signals during his press conference. The FOMC released on Wednesday (January 27) its newest statement on monetary policy. Generally speaking, the statement was little changed. The main alteration is that the U.S. central bank has acknowledged that “the pace of the recovery in economic activity and employment has moderated in recent months”. Wow, how did they notice that? They really must hire professionals! All jokes aside, this modification in the FOMC statement is dovish. Consequently, when analyzed separately, it’s positive for the price of gold.
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Commentary
Rickards Chimes In on Silver’s Resurgence
Most investors who focus on precious metals and commodities know that gold had a great year in 2020, up 24.6%. However, not as many know that silver did even better! Silver was up 47.4% in 2020, rising from $17.80 per ounce on January 2, 2020, to $26.35 per ounce on December 31, 2020. Silver didn’t just outperform gold in 2020; it also outperformed every other major asset class, including U.S. small cap stocks (up 18.5%), U.S. stocks (up 15.5%), U.S. corporate bonds (up 9.7%) and U.S. Treasuries (up 3.6%). Many other asset classes declined in price in 2020, including commodities, the U.S. dollar, real estate and crude oil.
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Gold Silver Central

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