The latest action in the price of silver has helped confirm the newly emerging bull market.
In early January, silver prices twice tested $15.75 to close above $15.70. The second time they tested that level, they quickly reversed, with silver dropping back to $15.55, then gradually falling even further.
The DXY dropped off considerably last week, as investors turned their interest toward earnings season and began pricing in continued dovishness from the Fed.
The price of silver managed to hold onto recent gains this week, despite renewed dollar strength.
Volatility has been soaring as the market's been thrashing around, with the S&P 500 down another 5% in the last five trading days.
Now, here are the factors that will drive silver in the last two weeks of 2018...
After a rough week for stocks and the Thanksgiving holiday, the price of silver remains one of the best deals around.
Of course, additional discounts may still lie ahead, but silver's inherent value at current prices are difficult to beat – no Cyber Monday promos required.
And the gold to silver ratio has once again popped higher in gold's favor, making silver an even bigger relative bargain.
My recent position on silver was that it had become massively oversold.
That was a week ago, when the price of silver dropped from $14.65 to $13.97.
But the indicator I'm following is showing signs of a coming silver price breakout...
By Money Morning Staff Reports, Money Morning - • Print | Email
Investors are looking to add silver to their portfolios ahead of an economic collapse.
It was a wise move before the last U.S. recession.
Here's everything you need to know...
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 that we're entering a sweet spot for silver prices over the next few months.
By A.J. Bursick, Associate Editor, Money Morning - • Print | Email
Silver price action this week, though muted, has shown some slight bullishness.
With gold essentially flat, the price of silver has managed to gain nearly 1.5% as it rises from price and sentiment lows.
Now, silver is likely to wait and follow gold's lead as we move into the next FOMC meeting this week.
My take is the dollar could see a bounce from the expected rate hike, then sell off in the following days.
Just when it looked like the price of silver was about to turn around, the metal has given up all its recent gains.
On the back of some renewed strength in the dollar, silver has caved and dropped back under even its previous low in mid-August.
The price of silver today (Wednesday) is trading near $14.26.
Now, here's what I see for the price of silver this week...
After becoming significantly oversold late last week, the price of silver has managed to show some strength.
So far that bounce has been somewhat timid. But conditions are ripe for a strong rally.
The price of silver made a valiant effort to rally twice last week, but to no avail. Rather than head toward gold and silver as safe havens, investors favored the U.S. dollar.
The U.S. Dollar Index made another run towards 95.5, punishing silver prices and a host of other commodities along the way.
