Silver enthusiasm at the start of 2026 may have parallels to peaks in 1980 and 2011. Lessons of parabolic price moves, shifting supply deficits and multiyear highs are emphasized by my graphic showing the metal at about a 100% premium to its five-year moving average. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t97og7kijh9o {BI COMD} #silver @markets(Mike McGlone)