Safe havens are becoming the investment of choice. Some weaker economic signs have raised concerns that an economic recession is right around the corner. Silver is flashing a bright future as a result, and the iShares Silver Trust (SLV) is a worthwhile investment, explain Mary Anne and Pamela Aden, editors of The Aden Forecast.

Gold continued to march upward this month, boosted by many factors. A weak US dollar, the banking crisis, the ongoing debt ceiling debate, the default deadline, and not to mention global economic uncertainty, all played a role.

Gold jumped above $2,000, testing and overshooting its record high on May 4 and it’s been holding near the highs. It’s been a great rise, up 26% since last November. It’ll remain strong above $1930, and it’s to be seen if gold breaks up into a full-blown record high.

chartAt the same time, many are asking if this latest runup since February is about over. Silver’s surprise fall from the highs recently, may be a sign of a temporary top forming. And considering the rebound rise starting in the dollar index, silver may indeed be leading.

But now’s the time to stand back and look at the bigger picture. Like gold, silver is in a mega 55-year uptrend, and it’s been in a stronger rise since the early 2000 lows.

Silver tends to be a sleeper. That is, it can move quietly near a low area for several years, like it did in 2015-19. See the “smile” that formed during that time in this chart.

But, interestingly, once silver wakes up, it tends to soar and outperform gold in a bull market rise (see the 1970s for example).

The resource sector affects silver as well, because silver is both a precious metal and a metal used in industry. So, when both gold and copper rise, you can bet silver will soar. Once it rises and stays above $20.50, the 2020 highs, it’ll be off and running.

Bottom line? It’s time to have patience with our resources and energy shares. The major trends are up and the time to shine will be upcoming.

Recommended Action: Buy SLV

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