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The biggest news in the price of silver this week has very little to do with the actual price.
In fact, silver has gone basically nowhere as it continues to consolidate around the $14.15 level in search of a catalyst.
What's worth noting, however, is that the U.S. Mint has sold out its inventory of 2018 American Eagle Silver Bullion Coins.
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August proved to be the strongest month since January 2017, with sales reaching 1.53 million units, up an impressive 72% over July levels.
Of course, this sort of demand has caused dealers to boost premiums all the way to 25% in some cases, as savvy buyers scooped up coins on two-year lows in silver prices.
So with silver prices low and possibly consolidating and the gold-to-silver ratio at levels not seen in 25 years, the metal has clearly become irresistible to some bargain hunters.
Here's How the Price of Silver Is Moving This Week
After big selling pressure pushed the silver price down two weeks ago from about the $14.50 level to $14.15, the grey metal has managed to hold above $14 while averaging $14.15.
Throughout the past week, it has had to contend with an obviously erratic U.S. dollar, whose index has ranged from 94.90 all the way to 95.70.
That's a huge range over just five days – yet increasingly typical of what's going on with currencies these days.
Here's a view of the U.S. Dollar Index (DXY) over the past five trading days:
By Monday, the DXY had retreated back to the low 95 area, around 95.15, which allowed for silver to regain and hold around $14.15.
Now, here's where I see the price of silver heading from here…
Here's What to Expect from the Price of Silver Now
About the Author
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.