With silver signaling even better days ahead, this is a good time to provide an update on the state of the market. The question on the minds of everyone watching the precious metals space is where is silver headed next. With 20 years of technical analysis within the Canadian brokerage business behind me, I have some thoughts…

The June 2025 price action in precious metals will be written about in technical trading books in the years ahead! Looking at the one-year chart above, silver has now posted a clear breakout from its long-term chart pattern. The previous two highs of $34.86 and $34.58 were noted in October 2024 and March 2025. Those highs will both offer strong long-term support at just under $35; this support will probably be tested in the weeks ahead, but the breakout that has taken place CANNOT be “undone”. This is a very important breakout that will lead to still higher prices in the months ahead.

Though predictions on how high silver may go after this breakout are fraught with peril, certainly an assault on $40 seems obvious and perhaps even conservative at this juncture. The 5-year chart (below) also highlights just how volatile and swift these moves can be; almost exactly 5-years ago, silver jumped from $18 to almost $30 in just two months

It is a great time to be looking at silver; and it is an even greater time to be producing it. With four silver mines producing millions of ounces of silver each year, Guanajuato Silver is fully leveraged to exploit a run on the precious metals. We may see some short-term seasonal weakness now that the breakout has occurred, but 2025 is definitely shaping up to be excellent for silver investors. That’s my take. What do you think?

James Anderson