In today’s update, I discuss where the silver price may be heading over the next few weeks. Of course, this is only a short-term horizon, but if individuals are going to watch Kitco.com or other silver price quotes every day, then it essential to know what the technicals are showing. How the silver price trades over the next two weeks will depend on the broader markets and U.S. Dollar Index.
Many subscribers ask me about taking profits on their physical gold and silver. While there’s nothing wrong with taking profits on your metal, it defeats the purpose of converting fiat currency into physical gold and silver.
Precious metals investors are wondering if the Silver Rally will continue in September. After the silver price reached nearly $30 in August, it has been consolidating lower over the past few weeks. However, silver tried to surpass the $29 level but fell last week along with the broader markets. So, the trend for silver in September may rely upon the broader markets.
If you are interested in all the interesting things happening in the silver market right now, you won’t want to miss this round table discussion as Chris joins Bix Weir, Jean Claude from Beyond Mystic, and Sean from SGT Report to discuss all things Silver.
If silver had the same kind of performance as the Dow since around the creation of the Federal Reserve in 1913, then it would have topped out at around $225oz. Yet, it only topped out around $50 in 1980 and 2011.
So that begs the question… has silver had its run?
Not by a long shot!