The price of silver appears to be spiraling out of control, falling this morning to its lowest level since April 2016.
Gold prices are on track to post a 2.7% weekly loss thanks to a relief rally in the U.S. dollar.
The recent gold price gully has investors wondering if it will recover at all this year.
The gold price is set to post a 1.2% weekly loss in the wake of an unexpected flash crash on Monday.
But we predict the metal to rebound this year as the dollar starts to become more supportive from a technical perspective.
The silver price has been volatile lately thanks to the Federal Reserve rate hike’s effect on the dollar.
Last week’s big swings in prices have investors wondering if the metal can rebound from recent near-$16 lows.
The price of silver today is lower again, continuing last week’s bearish trend for the price of silver. The biggest reason silver has been falling has been the Fed’s hawkish tone after they raised rates again last week.
The gold price is on track for a 0.5% weekly loss this week due to broader market strength.
But we predict the metal to start rebounding following next week’s likely Fed rate hike.
The price of gold in 2017 is now up nearly 11% on the year thanks to its sharp gains this past week.
The gold price is on track for its third straight session of gains today.
The metal’s longest winning streak since mid-April comes despite bearish sentiment around the French election.
The price of silver is currently trading at its lowest level of 2017 so far.
Although it may fall lower over the short term, our long-term price outlook is much more bullish.
The price of gold has taken a beating in recent weeks.