Forecast for silver price – Silver markets continue to paint higher

Silver markets continue to get a little boost as we have seen the markets paint higher the last few weeks. Now that “short-term retail” is out of the question, we can begin to return to a bit of normalcy. This means, of course, that we are likely to continue the upward trend, but perhaps not right up in the air, as some had initially hoped. That said, I like the idea of ​​buying pullbacks, as the stimulus package will, at least in theory, push up the demand for silver.

SILVER Video 16.02.21

Industrial demand for silver is one thing, but we are also looking at the possibility of inflation coming down the road and it will generally increase the value of precious metals. When this is the case, it is worth noting that silver tends to be a little more irregular than gold, so you will definitely want to be careful about your position size. All this said, I think we are looking at a scenario where we can simply jump in and act ruthlessly. I think you will have to be very careful about what your position size going forward because of course we will have a lot of noise out there that may come into play.

Because of this, I like to add small bits and pieces along the way on dips so we can leverage the value if and when it shows up on withdrawals. To top it off, I think the $ 30 level will be the target and more than likely a very tough resistance barrier to break out.

To see all of today’s economic events, see ours financial calendar.

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