While the price of silver continues to languish, an excellent contrarian signal has emerged.
After silver's recent foray into correction territory, the metal remains there after bouncing back only slightly.
While the price of silver continues to languish, an excellent contrarian signal has emerged.
After silver's recent foray into correction territory, the metal remains there after bouncing back only slightly.
The price of silver has been punished since the last Fed rate hike, but are we close to a bottom?
Thanks to a strong rally in the U.S. Dollar Index, where it climbed 180 basis points in just two weeks, silver prices have been stuck in the doghouse.
Now that silver is nearing a bottom, here's my newest price target...
A funny thing happened with the price of silver early last week. After both silver and gold dropped in the face of surging 10-year Treasury yields and the U.S. dollar, silver parted ways with gold.
Gold prices corrected, then essentially moved sideways. Silver prices, on the other hand, rose mid-week even as the dollar was gaining and gold wasn’t.
After a wild ride last week, investors have an increasingly optimistic outlook for silver. And for good reason.
You see, the 2018 World Silver Survey by the Silver Institute has just been released, and it's immensely positive for the silver market.
According to the Silver Institute, global demand for silver is growing at a ravenous pace, rising to its highest level in five years.
And this trend shows no signs of slowing down. In fact, it could be the catalyst that sends the precious metal soaring.
Despite muted action in silver over the past week, the precious metal continues to form a solid base. In fact, silver prices today (Tuesday) are already up 1.3% in morning trading.
There were, nonetheless, two main market-related events last week that were extremely relevant for silver prices.
Here's how silver prices today are trending, and where I see them headed from here...
Silver prices this week are rallying after a dramatic market correction in February. In fact, the precious metal has outperformed the S&P 500 over the last week, and the gains are likely to continue.
While the U.S. dollar weakens in the face of strengthening global currencies, it's possible that silver could climb dramatically higher in the short term. Increased volatility from unexpected inflation data could force bond yields higher and send silver skyward.
I'll show you exactly how high it will go...
The price of silver today (Tuesday, Jan. 30) is up 0.76%, to $17.40, in morning trading. And I see plenty of bullish momentum ahead for silver prices in 2018.
After exploding higher last week, the price of silver returned to mild consolidation mode on a mild dollar bounceback.
By Money Morning Staff, Money Morning - • Print | Email
After falling 30% through the end of 2016, silver is poised for a significant breakthrough in 2018. So significant in fact, that we think the price of silver could skyrocket more than 1,300% from current prices.
The price of silver has continued to consolidate over the past week, digesting its impressive gains since mid-December.
The price of silver's rise from its mid-December ashes has been nothing short of spectacular.
Thanks to that rally, the silver price finished 2017 ahead 6.7%. If you consider its 2016 gain of 14.3%, then silver appears to be joining gold in its return to secular bull market action.
And that's just the start for the silver price rally in 2018...