Price of Silver Today Drops, but Will Rebound in 2017

Peter Krauth

The price of silver today (Monday) is down marginally to $16.69 in afternoon trading. And while silver is known as more volatile when compared to gold, there are times when the opposite is true.

I think we're in the midst of one of those moments right now.

There are multiple ways of measuring and comparing, as well as of forecasting, exactly this kind of behavior.

Still, silver's been facing the dual headwinds of a rallying dollar and a propped-up stock market. The investing herd has been flocking to these asset classes, discarding silver along the way.

But for some of the same reasons gold is ultimately heading higher, so are silver prices. In fact, the price of silver may have less overall downside than gold because of its "dual mandate" as a safe haven and an industrial metal.

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And I think that's part of what's been going on recently with silver prices this month.

I'll show you with both performance and ratio charts why I think silver is still poised to outperform gold, even in the near and medium terms.

But first, here's a look at what's moving the price of silver today…

How the Price of Silver Today Is Trending

Unlike gold, silver's price movements have been more contained over the past week of trading.

The precious metal opened last Monday at $16.63 and moved pretty much sideways to close out at $16.56.

Tuesday brought weakness early in the morning, with silver starting its NY trading day at $16.45. It bottomed at $16.38 at 9:00 a.m., then reversed and headed higher to close at $16.62.

Wednesday had silver give that back. Despite opening at $16.65, silver weakened through the day to close at $16.48.

Thursday's open was even lower at $16.34, but that was followed by buying pressure that took silver up to $16.48 by 5:00 p.m.

Then Friday, silver started out just as weak at $16.34, but then popped 2.5% by noon to reach $16.75. By late afternoon, it was still trading hands around $16.68, having recuperated from the lows of the previous day.

Silver prices today were mostly flat, down just 0.2% in late afternoon trading.

Now that we've looked at the recent movements in the price of silver, here's where I see the precious metal heading from here…

Where the Price of Silver Is Headed

Peter Krauth

About the Author

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Peter Krauth is the Resource Specialist for Money Map Press and has contributed some of the most popular and highly regarded investing articles on Money Morning. Peter is headquartered in resource-rich Canada, but he travels around the world to dig up the very best profit opportunity, whether it's in gold, silver, oil, coal, or even potash.

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