Mike PhilbrickGlobal X Silver MinersSILTOP PICKSep 26, 2025

Still constructive on silver miners, they remain relatively inexpensive. Silver expected to record sixth annual supply deficit in 2026. What's changed is that manufacturers have been aggressively reusing silver, or finding alternatives. So part of the demand structure has changed, but it's still a story of scarcity.

More "explore" than "core".

(Note the short timeframe.)  Still sees lots of upside on the producers in particular, on both gold and silver.

(Note the short timeframe.)  Probably the best way to play the miners for a catchup trade in silver.

He's been selling gold to buy silver, because has a lot of catching up to gold. The difference is huge. The chart has broken out recently.

(Note the short timeframe.)  Thinks it will go to old highs. He's been buying the producers. A better trade than gold right now, as gold's a bit overdone.

Looking at the 3-year chart, it has broken down. But there's a pretty good level of support coming in. Plus fundamental reasons for owning silver -- could be a good inflation or currency hedge. Not a bad position to take advantage of the old resistance / new support level.

(Note the short timeframe.) Still likes silver. For someone looking for a trade, still a good place to buy with lots of upside.

A bit of a laggard, and then it broke out. You just can't argue with a good old-fashioned breakout. Lots of upside on silver, because there's lots of upside on gold, because there's lots of upside on all the commodities. In a new commodity mega-cycle, mainly due to increasing power draw needed for AI, EVs, data storage, and similar trends.

This has strong seasonality from the middle of December through to about the end of February.

(A top pick Aug 5/16. Down 23.72%.) He had told people at the end of September that you no longer want to be in these securities any longer.

How to Play Silver. There are three different ways to play: Seniors (SLVP-N), Juniors (SILJ-N) or the metal, SIL-N. He would buy SIL-N on dips. But if the US$ gets stronger in the interim, then it would mitigate some of your gains.

Silver has strong positive seasonality from about the end of July through to about the middle of October of each year. Technically silver equities are already in gear and are actually outperforming silver itself. Silver and silver equities are very attractive at current prices.

(A Top Pick July 23/15. Down 3.81%.) This has been a disappointment, because typically we get seasonal strength for the silver equities during this time. If there is any kind of strength between now and the end of the month, that will be an opportunity to take your position off.