Silver is under pressure this week, with charts showing that the metal fell to around $63.87 per ounce on Wednesday, down 0.35% from Tuesday. That follows a much sharper decline earlier in the week, when silver dropped more than 2.5% in one session.
The bigger picture is becoming more interesting. Silver has been hit by a stronger dollar, higher-rate expectations and profit-taking, while gold has shown somewhat better resilience. At the same time, silver's industrial demand gives it an additional source of potential upside if economic conditions improve.
For investors, the key question now is whether this is simply a healthy correction or the beginning of another leg lower. With silver trading near the $64 area, the next few sessions could be important for determining whether buyers step back in.
I’m watching $64 as an important area of support. A sustained break lower could open the door to more downside, while a recovery back above $65 would improve the short-term picture. Silver remains volatile, but after a significant pullback, the risk/reward is becoming worth watching closely.
Personally, I have not bought physical silver yet because of the premiums. When the price of the metal is already elevated, paying a substantial premium over spot makes the entry less attractive to me. For now, I'm watching the paper price and waiting for either a better entry point or a situation where physical premiums become more reasonable.
Would you mind sharing where you get that chart from?
https://www.apmex.com/
To me, Silver is currently at about $0.66 per ounce, on its way to $9.00 per ounce…
Good insight, waiting for better entry point on Silver might be a wiser decision rather than jumping on it just to have the shiny bar at home (or in a bank somewhere). 😊
Yeah the premiums are a pain, meaning there is still plenty of problems in the supply chain and the dealers are understandably trying to stay liquid if not solvent. I continue to see this as consolidation and continue to stack a few ounces at a time now meanwhile the fundamentals haven't changed much other that more in favor of metals over the longer term.
I'm not mad about this. With the holidays right around the corner, the price being down is kind of a blessing for me since that is when I usually make my buys.
Same I want cheap metal so I can re-up my stack
The slight sag in Silver prices pulled my DEGS play under water temporarily.
Basically when you buy DEGS you get tokenized silver rained into your wallet and it incentivizes holding because when you sell there is a fee and part of that fee buys silver and airdrops to holders. Big holders rotated out and Silver prices sagged so I'm upside down currently but not tripped out over it. Holders just need to stay active.
link?
https://dexscreener.com/solana/g69tw3836i8od2m5vsb4g1qpr5gnok73oxxwxy4cmqw4
Those who sell at the right time, when they are patient enough to wait for the market to bottom, are the right way to profit from this market,
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