Calling the price of silver a roller coaster would be an understatement.
All you need is to look at a 60-day or 6-month price chart, and you’ll see exactly what I mean.
In fact, even the past week can make seasoned silver investors nauseous. It’s been a bumpy ride, and it’s not over. On June 7, the price of silver was trading as high as $17.60. By last Tuesday, it had fallen all the way to $16.80.
The price of silver today is down another 0.63% to $16.58.
Although silver has lost ground to gold in the last few days, a glance at the price chart shows we may already be at support, bolstering the case for a return to upside price action from here.
A quick comparison of gold and silver in the last five trading days shows their price behavior has been nearly identical, with silver of course amplifying the movements.
Let’s examine silver’s volatility over the past trading week, then look to what may lie ahead for the precious metal…
How the Price of Silver Is Trending Now
Silver began the week on a bearish note, following through on weakness from the previous trading sessions.
This post was published at Wall Street Examiner by Peter Krauth via Money Morning June 19, 2017.
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