Enter to Win 50 American Silver Eagles Totally Free:

Money Metals Exchange was named Best in the USA because of our high-quality educational content, great pricing, and white-glove customer service.

FREE Expert Consultation: 800.800.1865

Money Metals Exchange Logo
  • Gold: $1,204.60 1.75 |
  • Silver: $14.09  0.03 |
  • Platinum: $841.20  -2.30 |
  • Palladium: $1,114.35  -3.00 |
  • Rhodium: $2,500.00  0.00 |

Silver Market Primed for Big Move

Precious metals markets enter the fourth quarter near a potential inflection point on the charts (see below). Gold and silver traded mostly sideways in the third quarter, with gold losing less than 1% for the quarter and silver managing a 2.5% quarterly gain.

2016 Silver Price Chart from Feb-Sept

The money metals finished the month of September on a bit of a down note last week. However, no major technical levels got breached.

The technical setup on the silver chart shows a three-month consolidation narrowing toward an end point.

Bulls are looking for a weekly close decisively above the $20/oz level to confirm an upside breakout. A strong break below $19, however, would put the bears in the driver’s seat.

Either way, investors should brace for a big move in the silver market in the days ahead, probably before the end of October.

comments powered by Disqus