| An SI Board Since August 2020 |
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Participation here is open to both novices and pros with the understanding that the seeking of knowledge should be accompanied by a willingness to share it too. We encourage comments, questions, news, and discussion of all things related to precious metals including mining, bullion trends, and related economic conditions and events.
For background, this board originated to benefit those who understood that with the outbreak of Covid-19 in 2020, the economic consequences would bring a boom to monetary metals without precedent.
From mid-March 2020 to nearly the end of July of that 2020, the price of silver rose 100 percent. The price of gold went up over 30 percent. Setting aside peripheral reasons for these moves, the larger part of it arose from a massive expansion of printing-press money, along with the artificial suppression of interest rates in the US.
Though the Federal Reserve began to push interest rates higher in Q1 of 2022, pausing in late 2023, inflationary pressures on the US and the global economy remained. But now, as of May 2024, signs of recession are appearing in the US. Hence, the Fed announced a lowering of interest rates beginning in September 2024. That will add pressure to PM prices even as multiple new all time highs have been posted going into late August 2024, the most recent being about $2,530. Some market observers began calling for prices to reach $2,700 to $3,000 by the end of the year. The first half of 2024 saw a closing price of $2,326.72.
If you are new to this board and choose to post here, traditional rules of civility apply and off topic exchanges will be allowed to some extent. Along the same lines, and as politics can not be separated from anything related to economics, please attempt to be as unbiased as possible, and be respectful of opinions that may not align with your own.
ValuePro (a.k.a. VP in AZ)
[The image above is of the remains of the superintendent's office at the historic Silver King Mine at Pinal (now Superior), AZ. It was and remains the richest silver mine in AZ. It dates from 1870. The office was destroyed by fire about 1990 and no structures now remain at the mine site. Exploration resumed about 2005 but ceased a few years later. The mine is within several miles of what may be the largest copper discovery ever. That is a couple of miles away at Superior, AZ under the combined ownership of BHP and Rio Tinto operating as Resolution Copper Company. The discovery zone is below the abandoned workings of the old Magma Copper Mine, which closed in 1982 after 71 years of production.]
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