PALLADIUM IS ON FIRE: Record High Today Is VERY BULLISH for Silver

The metals are really starting to heat up…

We have recently highlighted copper putting in a high for 2017:

 

 

Silver benefits from price movements in copper in that silver is both a bi-product of copper mining, and silver is also an industrial commodity in addition to being money.

Palladium is making new highs for 2017 just today:

 

 

Palladium is one of the four precious metals. Looking at the chart above, silver has decoupled from palladium since late April. The divergence has been widening to the point of extremes.

This is yet another reason to be very bullish on silver right now…

It is very interesting that right now, the average price for gold, platinum and palladium is $1,071 per ounce, and wouldn’t you know silver is¬†fighting to maintain $17. However, if we take the average price of all four precious metals, we have an average price of $809 per ounce.

Either the three other precious metals are severely overvalued, or silver is severely undervalued? I think we know the answer to that question…