Past is Prologue: The Silver Roadmap
From The Silver Stock Investor | October 2023
In my book The Great Silver Bull, I examine how silver has behaved in previous bull markets.
I outlined in this month’s intro how there are a number of forces acting right now that contribute to silver’s volatility and weakness.
With this in mind let’s review and analyze silver’s two previous bull markets to glean some clues on how it’s acted, and what may still lie ahead.
I think the single best analog we have for a silver bull market was its dramatic run in the 1970s. It quite clearly ran from 1971 until 1980. There were a few impressive rallies that took place in the 80s and 90s, but they were relatively short lived, and I wouldn’t consider them to be true bull markets.
Then in 2001 silver embarked on a major bull run which peaked in 2011. Few people agree on whether that was a self-contained bull market or part of something larger. I’m in the latter camp. I think that was simply the first half of a secular bull. In my view the period between 2011 and late 2015, when silver bottomed near $14 was the mid-bull correction period
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