Silver Price Forecast – Silver markets collapse on Friday

Silver markets have been pummeled during the trading session on Friday as we reached towards the $16.50 level. This makes sense, because the US dollar of course strengthened as money flowed into the treasury market after the announcement of new tariffs. By doing so, it looks as if the market will continue to be very difficult to deal with, and I believe that short-term traders are probably best to stand on the sidelines and wait for support to get involved again as the market has been basing for a larger move to the upside for some time. However, losing 3.5% or more during the day is a very negative turn of events.

I think that it is only a matter of time before the buyers get involved again, but I suspect that it’s going to be closer to the $16.25 level than anything else. If you wanted to sell silver, you certainly have missed most of the move, and should not be jumping in right now as it is essentially “chasing the trade.” Overall, this is a market that continues to be rocked by geopolitical concerns, and interest rates coming out of the United States. If interest rates continue to fall in the treasury markets, that shows just how much demand there is for safety, which could keep people out of silver. Longer-term though, I do like buying silver in its physical form for an investment.

SILVER Video 18.06.18