Silver Prices Today – Intraday, This Week, This Month, And Longer Term
Our Latest Silver Price News, Analysis, Commentaries
What will the price of silver be in 2021? You can find articles suggesting the price of silver will be over $1,000 and under $10. Perhaps this is the wrong question. A better approach: The global financial system is increasingly unstable and fragile, more so than in 2008. The important question is: How will governments, central banks and financial systems respond to the ongoing crisis? Future prices for silver are dependent upon the answer to that question. I suggest three possible scenarios. Scenario One – status quo: The next five years could look much like the last 20 years. Politicians spend too much money, debt expands exponentially, central banks monetize […]
All fiats fail, and the only difference this time around is the grossly exaggerated extent to which fiat has managed to survive. It also indicates that once the fiat “dollar” fails, and there are more and more cracks showing up in its ability to maintain its world reserve currency status, the move for physical gold and silver will also be favorably exaggerated to the upside.
Will this potential double bottom hold? After the wide range bar decline, 6 bars ago, the last 5 bars have been overlapping, and the closes are almost clustering, both signs for a possible change in price direction. A rally can be expected, but surrounding circumstances dictate it may not last, as explained next.
With the dollar having recently risen to a new seven-month high, commodity prices are in retreat. The brown line in Chart 1 shows the CRB Index (of nineteen commodity markets) falling to the lowest level since August (through yesterday). That commodity selling started in mid-October just as the U.S. Dollar Index started rising. A rising dollar almost always results in lower commodity prices (and stocks tied to them). The commodity selloff has been quite broad and includes industrial and previous metals, energy prices, and agriculturals. Several of those markets are testing six-year lows.
The metals sold off last week. Gold is testing righ now its August lows. This is a critical price level, gold bulls would like to see this price level hold, otherwise a washout (capitulation-alike) decline could be in the cards. As for silver, it is holding up slightly better. According to the Andrews Pitchfork methodology from PitchforkPlayground.com, gold has been whacked hard as the US Dollar rallies. Support is occurring at the lower median line extension of the modified-Schiff pitchfork and the July/August lows. The outlook of the precious metals is clearly not supported by the secular breakout of the U.S. dollar. As the multi-decade chart shows, the dollar has broken out of its declining secular trendline, earlier this year, and is about to confirm its breakout by moving higher from these price levels.
Our selection of Longer Term Silver Price Charts
We spend quite some time and effort analyzing the silver price, both on the short term and on the long term. The result is a wealth of information in the form of articles and analyses. Below is a selection of the 5 most valuable long term silver price analysis, containing many silver price charts:
People who have been following the gold and silver markets since the start of the bull market in 2001 know that both precious metals have had incredible price increases. In particular the silver price has gone from $4 to $49 at its peak in 2011. The price of silver has decreased significantly since then. It is currently trading (more than) 50% off its peak. There are some underlying economic drivers that need to be considered in order to understand this trend. Mind that both silver and gold are monetary metals and commodities. It is recommended to look at the more fundamental aspects of silver and gold when analyzing their price charts. An economic assessment, as well as an in-depth analysis of the monetary environment, are key.