Silver Forecast: Will The Elections Send The Price Of Silver Up Before 2017?

Anyone reading the headlines this week got a big surprise from the markets…i.e. Despite a Brexit-like result in the elections (wherein the unexpected result ultimately won), the markets looked volatile, but didn’t react quite the same as they did back in late June. Even so, gold and silver price forecasters saw some interesting trends this week that may have longer ramifications for both precious metals.

Looking at a forecast in the price of silver, it’s obvious to us that the prices of both precious metals are slated for healthy finishes to a strong year. That may especially be true as the Federal Reserve sees these skittish markets and waits for more signs of stability before making a big move. But where might we predict that the price of silver is headed? Let’s take some recent stories into consideration.

The US Dollar And Gold: Holding Silver Back For The Moment?

Although silver has been hovering in the $18 range for some time, there may be some indications that it’s ready to go higher when the right variables strike the market. Most notably, these are the price of the other precious metals, especially gold, and the strength of the US dollar.

EconomicCalendar.com noted just yesterday that gold prices have held back silver a bit, while the U.S. dollar has been strong in recent days, especially when compared to the yen. There are few variables as strongly affecting silver as the American currency, which is always one of the top predictors for where prices will go.

Has Silver Hit An Important “Trend Line”?

According to DailyFX.com, this week’s movements in silver have pointed to an interesting potentiality. Although silver didn’t react as strongly to the week’s news as say gold, silver’s spike may have moved it above its July “trend line,” which means a potential for a silver push over the longer-term. If it does repeat what it had going in July, now may represent a buying opportunity for silver.

Those who love to review graphs will likely find the DailyFX.com article interesting, although investors know that the past doesn’t necessarily represent the future. Still, such trend lines can be a valuable tool in predicting where silver may go, and these current trends seem to show more upward space for silver’s price in late 2016.

More Profit Opportunities In Silver May Increase Demand

CNBC earlier this week saw more opportunities for profit in silver, which may have certain investors interested in the metal because they believe there is more space for silver to move up before January of 2017.

As it stands today, silver is hovering right around the $18.00 range, which means that those who believe there’s plenty of upward space for silver may see a potential dip and buying opportunity. Gold has dropped considerably today, which may be bringing silver prices down for the moment. However, it appears as though most investors remain optimistic about the potential for silver’s price increase. It’s going to be an interesting end to the year no matter where the precious metals head.