What is silver?

Earth's gold, platinum, iridium, and silver may all originate from colliding neutron stars (pulsars), not from supernova explosions as commonly assumed.

“Pulsars might be the source of all the world's gold.”

McGlone explains that metals (copper, gold, silver) are at a historically unprecedented level of correlation with equities, meaning they can only rise if the stock market rises, creating an unusual and fragile dependency.

“The most correlated in history for metals, copper, and gold, and silver to go up. They need the stock market to go up. Just never seen that high of a dependency.”

Large speculators in silver are near the zeroth percentile of positioning for the past 12 months, signaling the metal is severely underowned.

“Silver remains underowned. Like here, large speculators are near the zeroth percentile on the positioning for the last 12 months.”

Michael Oliver dismisses the dollar index as a driver of gold and silver prices.

“>> Dollar is irrelevant.”

McGlone argues metals are set up for years of underperformance after their current run, analogous to the roughly 50% crypto drawdown, not a continued bull market.

“To me, metals look very much like cryptos last year.”

Michael Oliver argues the dollar index is irrelevant to gold and silver pricing, contradicting the common macro framework that ties precious metals to dollar strength.

“>> Dollar is irrelevant.”

Michael Oliver projects silver reaching $300 to $500, with the move likely completing within roughly three months of a breakout from its current congestion zone.

“We still say 3 to 500 and once we break out of congestion that likely will occur in a literally three or so months.”