Silver Price Forecast – Silver markets test $15

Silver markets right now are basically a function of risk tolerance. What I mean by this is that as the US dollar rallies significantly, we continue to see Silver markets taken on the chin. We are currently hovering right around the $15 level, an area that has been historically important. I anticipate that if we do break down below here, sore between here and $14, large money will come back into support the market. However, with the US dollar strengthening the way it has over the last several days, especially against the Turkish lira, that continues to put downward pressure on precious metals. This market comes down to the timeframe you are trading.

If you are short-term trader, you are looking to sell rallies. The downward pressure has been relentless, and there’s no sign of it ending in the short term. However, if you are a longer-term value-based investor, you are looking to buy silver at these low levels, with little to no leverage. I continue to buy silver ounces, but obviously there’s no leverage in that so I don’t need to worry about a $0.25 drop. If you are short-term trader, then obviously selling rallies that show signs of exhaustion could be the best way to go. However, if we get some type of solution with the Turkish lira, or better yet: the trade war, this market will turn right back around.

SILVER Video 15.08.18