Time for another Fat Pipe! Wow, so much happened this weekend. Let’s dive in…
SILVER! (and Gold!)
As a long-time, and sometimes long-suffering (because I am impatient) holder of silver and gold, this weekend we finally saw silver break out above $40:
I can only imagine the panic in some of the silver shorting bullion banks right now:
Live at the bullion bank board rooms. Emergency long weekend meetings…#Gold #Silver 🔥🔥🔥 pic.twitter.com/8SdcXOucJw
— Eric Yeung 👍🚀🌕 (@KingKong9888) September 1, 2025
Have the bullion banks lost control, finally? It’s possible. We may be about to enter ‘surfacing beach ball’ times.
Of course, silver is still a buck higher in China than the US, keeping the arbitrage pressure on:
In terms of the euro, silver has now made all-time new highs, which is significant:
#Silver Soars to All-Time High in Euro pic.twitter.com/M86SbtBps3
— BullionStar (@BullionStar) September 1, 2025
But I think a key driver is India, recently dissed by Trump over both a trade spat and Russian oil buying, so it may well be that India won’t respond to bullion bank pleas to ‘play nice’ and dial back their buying.
L O L 🤭🙈INDIA OPTS FOR GOLDEN HEDGE, CUTS TREASURY-BILL SHARE IN FOREX KITTY 🐈⬛.- THE ECONOMIC TIMES🤣🤣🤣🤣🤣#GOLD #SILVERMILKSHAKE SIMPS 🤣🤣🤣🤣🤭🫠Source: https://t.co/MgAf28iqIb https://t.co/eFbLjEMmF8 pic.twitter.com/L0rANvGiLp
— Eric Yeung 👍🚀🌕 (@KingKong9888) September 1, 2025
But, again, the story of silver is a fundamental story. One of supply being exceeded by demand. That’s unlikely to resolve any time soon due to supply increases coming from mines. The price has been held down too low for too long. It will take years to bring additional supplies online.
In the meantime, whenever you see a chart about solar installations, you are really seeing a chart of incremental silver demand:
1/🚨 Silver isn’t just “poor man’s gold.”The U.S. is considering labeling it a critical mineral.That flips the script – for industry, for geopolitics… and it drags China & India into the fight. 🧵🥈 pic.twitter.com/siEAZ83JRD
— Honza Černý (@honzacern1) August 31, 2025
Some countries have taken notice:
Why YOU should be buying silver right now!China is buying silverRussia is buying silverIndia is buying silverSaudi Arabia is buying silverUSA is buying silver Over 200 million oz increase in Comex vaults 2025!😍 pic.twitter.com/wKKXhwBI68
— Silver is stake in British vEmpire (@Steve_I_AG) August 31, 2025
And, oh yeah, let’s not forget that gold made a new all-time
by cmartenson 
