HI YO, SILVER AWAY: I'm Stacked And Ready.

 

Not referring to Silver, the Lone Ranger's horse but 99.9 % .Silver bullion.

I am not able to refresh my Silver Forecast Model due to unavailability of US economic data, as well as the fact that a forecast will not be useful until we see what the Fed does on 9-10 December. Also, I am on vacation in Japan till 10 Dec. 

But Silver has broken all resistance levels and I think its useful if I extract from the 29 Nov email to customers by Indigo Precious Metals' Managing Director David J. Mitchell:

"The CME Globex Futures & Options markets were abruptly halted during early Asian trading around 10 a.m. SGT, and, critically, remained offline for the entire day. This was not a routine technical glitch.

The shutdown triggered global disruption across futures markets, following a severe outage at CME Group — the world’s largest derivatives exchange.

And while I avoid conspiracy narratives, the full shutdown of all major Western trading exchanges precisely as silver encountered explosive upward pressure and heavy physical buy orders is simply too coincidental to ignore. There is, as the saying goes, no smoke without fire.

This had all the hallmarks of a forced delay and regroup manoeuvre, underscoring just how serious and acute the physical shortages have now become. CME’s official explanation? Completely unconvincing and does not align with the real world. Data centres are built to be fail safe, with multiple redundancy structures in place.

Silver Breaks Every Major Level

This upside move in silver was irreversible, driven overwhelmingly by:

• Real physical demand
• Tight global supply
• Accelerating physical shortages

Silver didn’t just rally — it closed above all major USD resistance levels and, more importantly, smashed through the critical silver-to-gold ratio threshold, finishing above 1.33%.

This is not the time for conservatism. Every structural level highlighted over recent months has now been decisively broken.

The final confirmation trigger on the silver-vs-gold spread was 1.324% — and we’ve now closed above it, decisively, on a month-end basis.

Where We Go From Here

Short-Term Target

Clear USD 60.00 with conviction (a minor hurdle)

Immediate Valid Target

USD 77.00

Highly achievable within the next month, potentially sooner given the velocity of physical demand.

Once we reach that region, I will reassess based on structure and momentum.

But if cycle analysis continues tracking correctly…

Next Major Move

→ Silver rapidly above USD 100.00

…much faster than the market currently expects.

Major Support Levels: These now form critical structural support beneath the market.

USD 54.40

USD 52.20 "