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Silver’s Meteoric Rise: From $22 to $33.6 — The Call of the Year

It’s October 20th, 2024 and silver is making headlines with a massive move to $33.6, a significant jump from my original buy calls at $22 and $27. If you’ve been following my analysis on TradingView, you’d know this rally was long in the making—and it’s playing out better than expected.

The Case for Silver: Why It Was Always Destined to Shine

Back when silver was trading at $22, the setup was too compelling to ignore. The fundamentals were solid—silver had been undervalued for some time, but with inflation rising and global uncertainty mounting, the stage was set for a breakout. By the time we reached $27, the market confirmed what I had anticipated. I increased my position, knowing the next big move was just around the corner.

Now, with silver sitting comfortably at $33.6, we’re seeing the results of that analysis. Last Friday marked one of the strongest weekly performances this year, driven by renewed interest in hard assets. Investors looking for safety amid inflationary pressures are turning to silver, pushing demand even higher.

Initial XAG/USD Buy on February 13th 2024 at $22

Bought XAGUSD on February 13th 2024 by Orgest on TradingView.com

From $22 to $33.6: A Macro-Driven Win

The Federal Reserve’s tightening cycle has put pressure on equities, making assets like silver far more attractive. But this isn’t just about inflation hedging. Industrial demand for silver—particularly in electronics and clean energy—is rising. This dual factor of safe-haven buying and industrial demand has pushed prices to new highs, validating my earlier entries.

Technically, the breakout past $27 was the key moment and I’ve been tracking this move closely on TradingView. Now that we’ve cleared $33.6, the momentum is strong and I see further upside potential as we head into the final quarter of 2024. Global markets remain on edge and silver is positioned to benefit from this environment.

RUN UP THE SILVER & GOLD BUY by Orgest on TradingView.com

Conclusion: More Room to Run for Silver

I’m holding firm on my silver positions as the market remains primed for more gains. The combination of macroeconomic factors and technical strength makes this a unique opportunity. If you missed my initial buy calls at $22 and $27, there’s still time to catch the next move. Stay updated on my TradingView posts, where I’ll be providing further analysis as this silver rally continues.

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