Liberty and Finance, Released on 12/31/25

Steve Penny argues that silver’s historic volatility near $70 likely represents an intermediate blow off rather than a final top similar to 1974 rather than 1980. He sees a plausible bearish case for a pullback toward the $48 to $54 support zone driven by a surprise dollar rally and deflationary shock before the next major bull leg. At the same time he acknowledges an equally compelling bullish case for silver eventually reaching $150 or higher depending on market psychology and Federal Reserve response. Penny emphasizes probabilistic thinking and risk management rather than predictions using “if/then” scenarios and portfolio rebalancing. He views gold as less risky than silver short term platinum as highly volatile but attractive long term and mining stocks as deeply undervalued relative to metals.

0:00 Intro
1:30 Silver volatility
6:46 Having a plan
9:11 $50 floor?
19:00 Mining stocks
21:44 Silver Chartist
22:33 Weekly specials

Steve Penny is a full-time trader specializing in silver, gold, and uranium. Steve Penny’s Silver Chartist: https://www.silverchartist.com.

  investing, silver, steve penny