The headline says it all: Silver closed at $103.08 while Gold closed at $4,983.10 per ounce, both records. Silver was up 14.4 percent for the week, while gold rose 8.5 percent.
Silver exceeding $100 per ounce is a shock. That means a dime from 1964 or before is worth about $7.50, while a quarter has $18.64 worth of silver in it.
If you bought a roll of junk silver during the $20 to $30 an ounce years, your purchasing power hasn’t just been preserved, it’s been accelerated.
In the past, people have made statements expecting the world to be in the midst of hyperinflation or financial collapse when gold hits $5,000. That hasn’t happened yet, but while we are not in a total currency reset, we are in a re-evaluation of hard assets. A contributing factor is that the Trump Administration shake up the global order. This is causing fear and spurring the purchase of gold and silver by countries, not just individuals.
Serious preppers should consider the price of physical precious metals and what it may say about the U.S. dollar, the global situation, and what the future may hold. Then let that assessment inform your prepping decisions. While many of us are staring a snow or ice storm in the teeth this weekend, we may be looking at something more tumultuous down the road.
