Silver Up Big Again, But I Don't Think It's Too Late To Buy This Dividend Mining Stock

The price of silver went up big time again, yesterday, and gold went up nearly $30 an ounce. The supposed “good” CPI report drove a rally in the stock market and even Bitcoin (finally) went up, but silver went up more. Silver went up 3.60% while the S&P 500 rallied for 1.17%.

I’ve been talking about the metals and mining stocks now for weeks, but I don’t think it is too late to buy SBSW.

I bought it about three weeks ago, when it was under $5.00, and have talked about it as a good way to play a palladium short squeeze, because it is one of the biggest palladium miners in the world.

I know it went up 6.88% yesterday, but it is still paying a dividend over 7%.

As far as it’s chart goes, it has what now looks like solid support around $4.50 and it closed above it’s 200-day moving average yesterday.

I own it and think it’s a long-term hold and a good short-term momentum play for people wanting to swing trade something for a few weeks.

The mining stock sector is on fire now, even if it isn’t talked about on CNBC at all.

Will be looking through more charts this weekend for you.

Maybe I’ll find some other setups.

They called a CPI of 3.4% yesterday good…..even though 6-Month Core CPI hit 4.0%, 6-Month Core Services CPI Hits 6.0%, both highest since mid-2023.

That’s one reason why gold and silver are going up.