Silver Price Analysis
Silver is down 9% this week... It was another volatile week in the metal markets with the technical backdrop continuing to deteriorate as broader asset markets also swing violently. Inflation concerns reaffirms that the Federal Reserve will continue to reverse the monetary policy after CPI on an annualized basis came in at 8.2% versus expectations of 8.1%. It's looking like we will see a 75 bps rate hike at the November 2 meeting. Meanwhile the U.K. Finance Minister was fired as they now attempt to reverse the proposed dovish economic plans previously outlined which sent their currency tumbling. So what does all this mean for silver? I think we will see silver dip lower in the coming months. Worst case I think we see $16! Best case broader markets start to recover since at the retail level I believe we are seeing a reduction in inflation that's not trickled up to government data. In that case I think we find a lot of pressure near $20.
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I don't think it will increase till the end of the year
That's what it is looking like. What price do you think we will bottom out at?
Silver is not performing great. It's going take a while before it becomes bullish !
It's been rough compared to the SPY which ended up down less 1% this week I'd say so. What in your opinion will help us move to more bullish price action.
We might see a massive boost upward in the price of silver before the month ends
Why do you think that?
The price of silver may fall !!! Very good analysis
I think it will what's your bottom price?
It’s going lower….. but premiums are getting shittier……
I know makes no sense! At what point does this whole system crack and the price skyrocket? I do think there is a real shortage of physical vs paper.
Nothing makes sense. That’s what they want you to believe so they can charge those stupid premiums. No shortage of anything yet.
That's insane I feel like someone needs to regulate premiums.
Thanks again for keeping us updated & informed, @cryptictruth. APMEX's, average, BU, American Silver Eagle premium, is around $20, making the price, nearly $40, each. Some are saying, it's because they are running out of product.
I think there is going to be a day when we realize how manipulated paper silver is. It seems there is a real shortage of physical but paper prices keep getting hammered down. It's going to be an epic squeeze.
Indeed a really volatile week for silver. I believe it might even dip further. Taking advantage of the current price by buying should be worth it as I believe it will be worth in the future
I'm thinking about adding when premiums drop. Right now coin prices are not following the actual price.
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