Could Silvers Bottom be in Place?

January 6, 2017 2:16AM CST

Perhaps no other metal has the investor following that silver has created, along with the allure of possibilities once a bull market gets going. Recently, silver has forged out an impressive 4% gain year-to-date with only 6 days into the year, and many traders believe this is the tip of the iceberg. Of course, strong arguments are made that the FED will be extremely aggressive in it's policy stance with interest rates and 2 or 3 rates already cooked in the books. My suspicions are that we are more likely to see just 2 rather than 3. I base this on the assumption that the FED neither wants to raise rates to jeopardize the housing recovery, nor wants to jar the stock market rally. However, a correction in the stock market may be received as another breath of fresh air for metals with the dow struggling to reach 20,000. Another driving force has been the cash grabs in India and Venezuela, and a steady flow of capital into crypto currencies like Bitcoin. But with bitcoin north of $1000 it may have priced itself too high and funds may flow into other safe havens like silver.

Silver Daily

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