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Will Silver End 2023 on a High Note?

Silver is up for the year.

Silver advanced 12% in November after increasing 2.2% in October. Despite a slow September, as of right now, silver is up 7.6% in 2023.

Early yesterday morning, gold hit a new record with spot prices hitting $2,110.80 an ounce, proving that the precious metals bull market is still well underway, despite some longer periods of consolidation. Silver is seeing gains as well, but while gold is hitting new highs, silver is nowhere near the highs of the last bull market.

In the last bull market, gold peaked at 650% gains from the previous lows, but silver blew gold out of the water with 1,000% gains from its lows. Silver's high set during the last bull market was $50 an ounce, yet silver today is nowhere near that high... yet. Historically, silver tends to lag behind gold, and then move explosively, whether to the upside or the downside. 

In 2020, we saw this pattern in action. Gold reacted strongly to the safe haven demand caused by the upheaval of the pandemic. While silver's upward trajectory held off, leading to the highest gold-silver ratio of all-time, silver spot prices jumped 48% by the end of the year, outperforming nearly every single asset class in 2020, including gold.

So, while gold seems to be taking off again, silver is still lagging behind, providing an opportunity to obtain silver at lower spot prices before it overtakes the momentum in gold. It's not possible to time the markets, but we're currently at the part of the pattern where there is the most opportunity to obtain silver at these levels.

In conclusion, while gold is hitting new highs, silver is still nowhere near the highs of the last bull market, providing an excellent opportunity to get into silver.

To help you take advantage of the building momentum, we're offering silver at a low premium. Give us a call at 1-800-831-0007 or email us to place your order today!


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2023 Silver Canadian Maple Leaf Coins
As low as $3.29 over spot*


*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. $3.29 per ounce over spot pricing available for orders of 500 oz. or more. $3.79 per ounce over spot price available for orders of 499 oz. or less. Minimum order is 100 oz. silver. Shipping, handling, and insurance are included on any purchase of 500 oz. of gold or more. Offer expires Friday, December 8, 2023, or while supplies last.