The Daily Gold YouTuber is nowadays more into silver, and he also believes that 100 USD per ounce is the minimum where we are headed. However, for me, he is the “most convincing” of these because he bases his claims on real data and then also shows how he thinks things should go. Below is his latest video, the message of which is much the same as the other two.
HODL!
I also used to think that 60-70 USD per ounce was the level where it would get stuck. But you have to be adaptable and admit when you’re wrong. Maybe it’s just worth having a BTC or GameStop-style HODL approach right now.
I’m throwing out a thought from outside the box.
Many analysts focus on silver’s historical charts and its technical grinding. In my opinion, silver is entering a new era in terms of demand, and one cannot draw very accurate conclusions from past prices.
I asked an AI to search history for commodities whose demand has grown permanently. “Permanent” is a relative concept here as well. If not permanently, then for the time being.
The answer:
A rise in commodity demand to a new level has often led to repricing—that is, a permanent or long-term increase in prices when supply has not been able to keep up. This is typical during technological breakthroughs, geopolitical shifts, or structural demand shocks. Below are examples from history where demand has grown significantly and prices have been repriced (often a +100–1,000% increase over several years). Figures are inflation-adjusted to current value, based on historical data (e.g., Maddison Project, USGS, IEA). Finally, a comparison to silver’s current and future situation.
Copper (1860–1900: +200–300% increase, during the Second Industrial Revolution)
Demand exploded with electrification, railways, and the telegraph—new technology created a permanent demand level (growth of 5–10%/year). Supply lagged (new mines take 10–15 years), and the price stabilized at a level +150% higher.
Comparison: Copper was the predecessor to “green energy”—a similar shock to silver’s PV/EV demand now.
Oil (1900–1920: +300–500% increase, after the invention of the car)
Demand grew with Henry Ford’s Model T and the mass production of cars—oil shifted from lighting to transportation (growth of 10–20%/year). The Opium Wars and Middle Eastern discoveries complicated things, but supply grew with a lag (new drilling takes 5–10 years). The price stabilized +200% higher.
Comparison: Oil was the “transportation metal”—silver’s future demand with EVs and AI could be similar, but silver is consumed permanently (it does not circulate like oil).
Rubber (1900–1930: +400% increase, during the auto and industrial boom)
Demand rose with car tires and industry—the new level was due to a technological breakthrough (growth of 15–25%/year). British plantations in Malaysia and the breaking of the Brazilian monopoly caused spikes. Supply grew with a lag (plantations take 7–10 years). The price stabilized +150% higher.
Comparison: Rubber was the “industrial silver”—a similar by-product dependency (like silver being 70% a by-product), and the demand shock led to repricing.
Lithium (2016–2022: +380–400% increase, with the EV battery boom)
Demand exploded with lithium-ion batteries (EVs, smartphones—growth of 50–100%/year). Supply lagged (mines take 3–7 years), but oversupply crashed the price by -80% in 2023–2025. The price stabilized at +200% higher than the starting level.
Comparison: Lithium is the closest example to silver’s current situation—both are “green technology” metals, demand is growing exponentially, but silver consumption is more final (it isn’t recycled as well).
Rare Earth Elements (REE, 2005–2015: +500–1,000% increase, with electronics and green energy)
Demand grew with smart devices, wind turbines, and EV motors (growth of 10–20%/year). Chinese monopoly restrictions (2010) caused a spike. Supply grew with a lag (new mines take 5–10 years). The price stabilized +200–300% higher.
Comparison: Geopolitical restrictions on REEs (China) resemble silver’s future restrictions (2026 export restrictions)—in both, demand rises to a new level, and a price spike is likely.
Graphite (2023–: +20–30% increase, with the battery boom)
Demand grew with EV batteries (anodes) (growth of 15–25%/year). China’s export restrictions (2023) caused a spike. Supply grew with a lag (new mines take 3–5 years). The price stabilized +50% higher.
Comparison: Graphite is the closest current example to silver’s situation—in both, Chinese restrictions exacerbate the deficit, and demand grows with industry.
Silver demand has risen to a new level in the 2020s through industry (solar panels +20% YoY, EVs, AI, electronics)—total demand of 1.2 billion oz in 2025, forecast of 1.5 billion oz in 2030 (Silver Institute). This resembles the examples above:
In addition to the green transition, the arms sector is driving silver demand heavily. Missiles etc. need a surprising amount of silver to function, and once they reach their destination, that silver is lost for good. These missiles are apparently being launched by so-called “superpowers” daily in the name of “peace” (because war is peace, unfortunately).
Silver is experiencing a point of discontinuity, and one often recalls the sports trophies of the 80s with amusement. It didn’t have to be much of a skiing competition for silver spoons or something similar to be handed out.
In this video, a precious metals dealer claims that usually in January, physical delivery is requested for dozens or at most a hundred deliveries of physical silver, but the current situation is that thousands of deliveries are being requested. I wonder if this is true?
He also claims that Western banks are short by about 4-5 years’ worth of annual silver production? I wonder if this is true?
It would be interesting to hear about good silver projects/miners if you have found something a bit “under the radar” that hasn’t gone up 2-3x yet or still has significant upside?
I’ll throw in my own wildest lottery ticket: Magma Silver. They have a gold-silver project in Peru, where Newmont, among others, has spent money on drilling. It was likely too small a target for Newmont’s scale, allowing Magma to snag the project for themselves. They are conducting additional drilling in Q1 to get an official mineral report published by Q2. The market cap is only 25M CAD at the moment, so even a relatively small resource could increase the value quite a bit. Options were granted quite generously in the early stages. Insiders own 10% and Eric Sprott owns 9%, which gives the thing some legitimacy. There was a 5M offering in October, and if the share price jumps for some reason, you have to be prepared for a new offering to hit the table immediately. That’s how they usually work, at least…
Here are ChatGPT’s lowest, i.e., conservative estimates based on the previous owners’ drilling results. I don’t know if they can be trusted at all, but if they materialize, similar projects are typically 10x more valuable.
The “experts” on YouTube certainly saw the continuation of the silver price rally coming. It has already broken 90 USD per ounce. Soon we can start warming up to the idea of it breaking a hundred. You can make it easier by listening to Toto’s 99.
Strong momentum indeed. Silver is up 46% in a month, and the GSR has plunged to levels where it has historically been sensible to shift allocation to gold.
We’ll see when my diamond hands turn to paper.
Here’s a tweet about China and silver. China’s inventories are low, and at the same time, the country is the world’s largest silver consumer. There is a deficit, and a very significant deficit is on the horizon. 
https://x.com/ekwufinance/status/2013206375946441210
Silver is already knocking on $100 
By the way, all silver producers rose something like 5-20% yesterday. Are investors starting to gradually price in rising earnings, with stocks rising vs. the metal? Below is the silver miners/silver ratio on a monthly chart, which is turning from a strong support level. In the Q4 results, $50-60 silver is realized, so what happens if it’s $100+ in Q1 
Below are fresh statistics on Chinese prices. Silver $111 and gold almost €5000
Toto’s song “99” was originally inspired by George Lucas’s film depicting a dystopian future (THX 1138, the award-winning director’s debut feature film). It fits the current spirit of the times quite well.
Since I can no longer make sense of this $99 price through any technical analysis, I’ll just have to listen to the analyst who foresaw this. In his video yesterday, Michael Oliver says that silver could be really surging by Q2 2026. He talks about prices in the several hundreds. Let’s go with that then.
That’s it!
For lack of anything better, I’m quoting myself.
When following silver’s price development, many focus on comparing it to its own history. How it has developed in the past and what factors have driven its rise. It has bubbled, it has been cornered and shorted, but it has always humbly returned back to earth. It is considered gold’s little brother, moving in gold’s shadow according to world politics or economic cycles.
The history of commodities provides examples of situations where demand has exploded. Silver’s demand hasn’t exploded yet, at least not quite, but we are entering the sixth year where demand exceeds production. And at some point, this must start showing in the price, and that stage is now at hand.
January is a low delivery month for silver on metal exchanges, yet its deliveries are at record levels (compared to other years’ Januaries; there are larger months elsewhere). March is traditionally the actual delivery month. Now, some of the March deliveries are wanted two months early, and that is moving the price now. When March arrives, it’s possible we will see another move higher.
Silver production differs from other commodities in that it is mainly a by-product. There are few mines in the world that produce primarily silver and few that can try to increase their production. In Nälkämaa (a region in Finland), there is one small mine, but its actions won’t move the world market price.
Sometimes things progress slowly at first, until everything happens at once. Historical moments are registered in hindsight. The little guy can only roll the dice and hope for no snake eyes.
For lack of anything better, one could also read older posts where almost everything you mentioned has already been stated, including from outside the box.
It has been discussed here, among other things, that not enough mineral exploration has been done, that the price of silver has started to follow actual demand out of necessity, how side streams work, and that there is no quick solution for increasing production.
Broke $100 on Friday, already $117 on the board today
Silver already at a +$20 premium on the Shanghai exchange compared to Western markets: China Silver Price Today | Shanghai Premium - MetalCharts
A short while ago, over a billion ounces of paper silver had already been sold during the day. That is more than the total combined annual production of the world’s silver mines, 820 million ounces. The gap between Comex and the Shanghai physical market is widening. One day and nobody needs silver anymore! Great! I just think that this Western toilet paper market will be abandoned as the price setter for silver.
I watched an interview with Keith Neumayer (CEO of First Majestic Silver) a couple of weeks ago, and he said that industrial producers have called him directly, asking if he can sell silver via a contract. He said it is possible because they have their own refinery for coins. So, these are the first signs of Comex being abandoned.
To clarify further: over 208,000 contracts sold and one contract is 5,000 oz, so over 1.04 billion oz sold.
Someone made this great summary of today’s manipulation:
Summarized from various posts on X:
FUTURES ROLLOVER
January 31 = Last trading day of month 
February COMEX contracts expire → Massive delivery pressure!
COMEX Gold Deliveries (Jan 29):
20,484 delivery notices issued! 
JPMorgan alone: 11,959 issued, 7,995 stopped
Deutsche Bank: 2,387 issued
Total: 2.05 MILLION oz of gold delivery demanded!
This is UNPRECEDENTED delivery pressure. 
THE MANIPULATION TIMING 
Classic playbook:
Jan 29: COMEX sees massive delivery demand (20,484 notices!)
Jan 30 (today):
Raise margins suddenly (force liquidations)
LME “technical halt” (stop physical trading)
Slam paper price $121 → $75 (-38%!)
Warsh nomination (cover story)
Jan 31 (tomorrow):
Contracts settle at LOW prices
Banks cover shorts cheap
Delivery obligations reduced
You’re watching it happen in REAL TIME. 
THE PHYSICAL DISCONNECT - SMOKING GUN 
Paper vs Physical (from your posts):
COMEX: $83-92 (paper manipulation)
Shanghai: $130 (physical reality!)
Shanghai premium: $44.17/oz - UP 100% TODAY!
Perth Mint: HALTED sales (before crash even happened!)
THE PROOF:
If silver is “really” $83… why is Shanghai paying $130?
Answer: Because $83 is FAKE.
Physical silver ISN’T AVAILABLE at $83.
The banks can print paper contracts. They CAN’T print physical silver.
THE CIRCUIT BREAKER VIOLATION
“CME violated its own rules. Circuit breakers should trip at 10%. They’re letting it rip.”
Exactly.
Silver dropped 28% (not 10%)
No halts triggered (should have stopped multiple times!)
CME “let it rip” down but would halt on way UP
This is regulatory capture. The regulators protect the banks.
The price of silver has continued to fall from Friday’s prices, and I’ve been wondering how long this price manipulation with paper silver can practically continue? There is still growing industrial demand for silver, at least for now, and less new silver is being mined than is being consumed, so according to my theory, at some point miners/producers will start selling physical silver at prices that are not tied to the paper price because the system is not based on reality. Interesting times ahead, and I have bought silver miners for a medium-term hold.
CME Group raised margins again, so the artificial selling pressure continues. Margin calls will inevitably happen. Same thing with gold.
