Scary Silver Price Drop! Rafi Farber Drops BOMBSHELL Predictions for Gold & Silver in 2024
Scary Silver Price Drop! Rafi Farber Drops BOMBSHELL Predictions for Gold & Silver in 2024
While gold captures much of the attention, silver is performing remarkably well, especially in industrial applications. It remains well below its all-time high, near 50 dollars, but it has historically lagged in early bull markets only to make sharp gains.
Both metals have outperformed major stock indices like the NASDAQ, which posted a 24% gain and even outpaced the broader commodity markets.
In his latest silver update, Rafi "The Wise" Farber dives into the week's developments, sharing his insights on the forces shaping the silver market. On commodities, Rafi notes there hasn't been a "silver smash" this week, as all commodities declined, with silver faring slightly better. He highlights silver's performance relative to other commodities, noting that it is at a significant resistance level similar to past peaks in 2011 and 2016.
In his assessment, Rafi predicts reverse repos will eventually reach zero as soon as Treasury bills replace them. He estimates that an additional 100-150 billion dollars in T-bill issuance could phase them out this month, potentially triggering a banking crisis around January 20. The reverse repo facility is widely viewed as a proxy for excessive liquidity, and it has fallen from a peak of 2.6 trillion dollars at the end of 2022 to 144.2 billion dollars on Tuesday, the lowest level since early May 2021. Many Fed officials expect it to go close to zero, and from that point on, quantitative tightening will start eating into what have been very stable bank reserves.
Turning to bond yields, Rafi remarks that 10-year Treasury yields have been trending lower since October 2023 but may soon rise, along with 30-year yields. He links this to the Fed's recent 25-basis-point cut, which could normalize the yield curve, a shift often preceding a recession within 3-4 months. The dollar and Treasury yields will likely influence immediate price action, with silver positioned to rally if gold holds its momentum and inflation data supports a dovish shift from the Fed.
Historically, silver has performed well during economic downturns and periods of high inflation. For instance, during the 2008 financial crisis, silver prices significantly increased as people sought refuge in precious metals.
Drawing a parallel between today's economic and pharmaceutical industries and the 19th-century opium and silver trade, Rafi Farber highlights how both eras are marked by monopolistic control and profit-driven agendas. He predicts that silver could be central to an upcoming economic shift, potentially reemerging as a form of money if the dollar collapses.
Silver has garnered significant interest as a precious metal investment globally. Currency devaluation can powerfully impact silver prices. Silver often becomes more attractive when major currencies like the US dollar, the euro, or the Chinese yuan lose value. This happens because silver and other precious metals usually hold their value better than paper money during inflation or financial crises.
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