Over the last 12 months, the price of silver is up a remarkable 16%.
Since its lows of early 2016, the metal has gained an impressive 42% so far.
I think 2020 is setting up to be another positive year for this precious metal.
Here’s a look at the details on silver’s fundamental and technical setup, and what that means for the price of silver in 2020.
The price of silver has enjoyed a tremendous run over the past three months.
After bottoming in late May around $14.40 per ounce, silver has tacked on a breathtaking 18.9%.
That has silver currently trading around $17.
And yet, by numerous measures, this precious metal remains extremely cheap...
The price of silver went straight up since last week. In fact, it just launched into a major breakout, surging to a new yearly high of $16.45 an ounce. And it's only getting started. You see, it's often when an asset is nearly universally despised that it can begin a massive new bull market. A […]
With the recent surge in gold to five-year highs, the price of silver may just be coming into its own.
Since my last silver update, stocks have come roaring back to near all-time highs.
But interestingly, silver prices have rallied as well, benefiting from all the trade war talk and the cloudier economic outlook.
Here’s my prediction for how high the price of silver is headed in 2019…
In the face of escalating trade war rhetoric, almost no asset has escaped selling.
The S&P 500 is down 1.5%, crude oil is down about 4%, gold is nearly flat, and the silver price is down 3.9%.
The price of silver has trended downward in the entire last month, but it's definitely not forever – and there are many reasons for this.
There's no sugarcoating it: The past month has been unkind to the price of silver.
But strong evidence indicates the drought could end soon.
The price of silver has been in a holding pattern since late February, but the Fed's recent announcement was enough to push silver from $15.30 to $15.50.
Now, it's looking more like the silver price's correction has run its course and the metal is preparing itself for the next run higher.
The price of silver gyrated last week, exhibiting more volatility than gold.
It was a story of three steps forward, one step back, as the metal reached back above the $16 mark, but was unable to hold that level.
Like gold, silver prices looked like they had finished consolidating, before the end of last week.
Since peaking just above $16 in late January, the price of silver has moved into consolidation mode. In fact, in last week's update, I told you not to be surprised about any pullback going forward.
So far it's been a pretty mild correction in silver prices, which have dropped from a $16.07 peak to their current level near $15.65. Still, the precious metal is up 12% since November and has held up well despite recent strength in the U.S. dollar.
The price of silver enjoyed a bullish uptick over the past week, so any pullback now should come as no surprise.
In fact, silver prices rallied 5.7% in the last 10 days of January, and a stunning 15.3% from mid-November.
A near-term consolidation in silver prices would not only be expected, it will be healthy as such dramatic gains are digested before the next move.
I fully expect that move to be higher for a number of reasons.
