Rafi Farber: The 1970s are Repeating for Silver Exactly, And It’s Now 1978

Silver topped at $6.50 in 1974, from a low of $1.30 in 1971. That’s a quintupling in less than three years. But then, from 1974 to 1979, for five excruciating years, silver went absolutely nowhere, and silver stackers were convinced everything was rigged. It took silver 2 years to bottom in 1976, and then drifted back to its old 1974 high. Then, out of nowhere, silver catapulted by a factor of 8 in just over a year.

Well, silver has been pinned below $30 for 4 years now, and took two years to bottom from August 2020 to August 2022. As frustrating as it is now, we are repeating the 1970s almost exactly. And today is 1978.

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