Start the conversation
Over the last month, gold prices have surged, tacking on over 3% in just the last two weeks.
And it looks like silver prices are next.
You see, I believe we're entering a sweet spot for the price of silver over the next few months.
Market turmoil and a weaker U.S. dollar are setting the stage for a significant rally in the precious metal – one that will shrink the gold-to-silver ratio and make silver holders a killing in the process.
As silver plays catch-up with gold, the metal's near-term outlook is looking increasingly bullish…
A Weak Dollar Is Setting the Stage for Silver's Rally
Last week, silver struggled as the U.S. Dollar Index (DXY) rallied to a new recent high of 96.14.
That was simply too much headwind for silver prices, which caved to the pressure and sold down to $14.24 on Tuesday (Oct. 9).
Wednesday (Oct. 10) was rough on stocks, with the S&P 500 dropping 95 points (3.3%) and the Dow losing 830 points (3.15%), while the 10-year Treasury rose to a record 3.22% yield.
Billions Are Now in Play: Millions of Americans could collect "Federal Rent Checks" – to learn how to claim your portion of an $11.1 billion money pool using this backdoor investment, click here now…
Silver dropped along with the stock market to $14.22 by midmorning before recovering right before the close to $14.28.
Thursday (Oct. 11) generated the real action for the precious metal as the DXY fell, testing the 95 support level. The S&P 500 fell to 2,710 before recuperating to close at 2,728.
Uncertainty in the dollar and institutional stocks was enough to boost sliver prices, pushing them to $14.56 by close.
You can see the dollar's rapid decline in this chart…
Silver managed to hang onto its gains for most of Friday (Oct. 12), closing at $14.58.
With the dollar continuing to weaken on Monday (Oct. 15), silver continued to gain, jumping to $14.67 by close.
With international pressures continuing to drag the dollar south, I think this trend is likely to continue.
And it could send prices higher than Wall Street is expecting…
Here's How High Silver Prices Are Heading
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.