Silver Weekly Price Forecast – Silver Markets Give Back Some Gains This Week

Silver markets rallied a bit during the week, but then gave back the gains as we ended up falling below the 16 pointer zero dollars level to look towards the $15.00 level by the time Friday rolled around. This is a significant pullback and it does look as if silver is a bit more bearish than other precious metals such as gold and platinum. Ultimately, if we break down below the $15.00 level then I think we start to look at the $14.50 level for buying opportunities. At this point, I think there is plenty of volatility ahead, and I do think that long enough time goes by, and we should see the markets rally. However, something about silver that keeps it down is the fact that there is a certain amount of industrial use that gets factored in.

SILVER Video 20.04.20

Ultimately, I do like the idea of buying physical silver for the longer-term “buy-and-hold” situation, and therefore I do always have a bit of a “long position” on when it comes to this metal but if there is no leverage involved, you can simply hang on and wait to go higher. It’s not until we break down below the $14.00 level that I would be concerned, so at this point I like the idea of buying these dips, but I also recognize that you need to keep your leverage as low as possible. If you have the ability to trade the CFD market, it’s quite easy to do. However, if you are stuck with futures contracts, it’s probably best to leave this market alone.