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After peaking twice just south of $16, the price of silver has started to back off.
The precious metal put in a stellar performance in the two months between early November and early January, climbing from $14 to almost $16.
That was a powerful 14.3% move.
Now, we're starting to see some traders take profits and even rotate back into stocks, which have turned higher in the last three weeks.
With silver prices holding near their 200-day moving average and possible renewed weakness in the U.S. dollar, we could well see this precious metal return to rally mode before long.