After all, if you got long in silver sometime in November at roughly $49 an ounce and here we are over $69 an ounce, and you are getting to the holidays and low liquidity, it would make sense to close out your position and take those massive gains out of the market. Overall, this is a trend that is really hard to fight at this point.

Silver price action continues to impress as XAG/USD consolidates near all-time highs, reinforcing its role as one of the strongest-performing commodities in the current macro environment.

Gold rose to a record above $4,500 an ounce on escalating tensions in Venezuela and expectations for more US rate cuts. Silver and platinum also advanced to all-time peaks.

We are at $69 and approaching $70, something that almost nobody in the industry saw coming. At this point, the final target is somewhat impossible to know.