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The price of silver has been steady over the past week and is still up tremendously since late December. In fact, silver prices are still up more than 9% from their December low.
At this point, a small pause in silver's rise would not surprise me. The metal typically takes a little time to digest its massive gains.
The dollar's decline has certainly helped, supported by the persistent wild swings in stocks.
In my view, stocks could recover despite growing volatility, and that along with economic uncertainty and a possibly dovish Fed should underpin silver. I think the grey metal is in for a strong rebound year as investors look increasingly for viable asset allocation alternatives.
The recent sharp rally in Treasuries in response to the dramatic stock sell-off also shows investors have sought shelter. Interestingly, silver has also risen along with bonds as safe havens have become increasingly attractive.
Here's where the price of silver heads from here…
Why the Price of Silver Is Rallying in January and Where It's Headed
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.