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A Silver Price Forecast For 2017

Silver is breaking down, similar to gold and miners. That does not bode well for the price of silver in 2017. How deep could silver fall in 2017? That is the question we try to answer in this article.

Silver’s breakdown should not come as a surprise, as we warned our readers already two months ago that silver was on the verge of correcting, just weeks after the Brexit frenzy.

We do realize that we were a lonely voice, as evidenced by Bloomberg’s bullish silver article, Keith Neumeyer’s nine-bagger prediction for silver’s price, the expectation for a bullish silver price after the Brexit. The Daily Bell came out with a fundamental argumentation on why the price of silver must go higher. All that is fine, but serious investors should realize what it is: it’s media.

Media articles are not a solid basis for smart investments.

Our analysis revealed a red flag for silver when the grey metal hit this triple resistance point which is visible on its long term chart (see below). Let’s be honest: a triple resistance point is not a coincidence, and it should be taken very seriously.

Since then, silver’s 2016 rally has stalled, and, as a consequence, it resulted in a stiff correction this week. We believe this correction has more downside potential.

How low could silver fall in 2017? The answer is very simple: by examining silver’s chart, we can derive a first obvious target of $15, to be reached somewhere in the first months of 2017. In case that support area would be breached, we would say that the most bearish scenario would result in a $10 silver price.

We do not expect silver to fall as low as $10 in 2017, but don’t exclude it neither, for the same reasons outlined in our gold price 2017 forecast. The alternative bearish target would be $12, i.e. the 2007 and 2009 lows.

Short term, the $15 target is as good as a fact.

New update on our silver price forecast

*** Update on 26 December 2017 *** 

We stick to our bearish silver price forecast for the first part of 2017.

Silver’s long term chart below shows a rising trend (green lines) and the recent falling trend (purple lines). When analyzing precious metals prices it is key to identify the trend channels. We look for price points where several important trends arrive at one specific price point. Price point (1) on the chart was important as it halted silver’s rise.

The next important price point is indicated with the number (2) on the chart. There is no support between the current price and price (2). If (2) does not hold, there is little in the way until $11.50 and $9. That is a stretched scenario though, but never say never in markets. We will re-evaluate our forecast once silver is near $14.50.

  • Valorie DuBois

    I’m rather new at all this, but have been following the silver charts for the past few months and it looks like your predictions are right. How do we use this low to our best advantage? Should we invest minimally when it drops and hold on to it? Or maybe take advantage of the fact that the stock market seems set to boom this coming year and just keep an eye on silver?

    • Joey Whitford

      I plan on keep buying and buying more and more and more as it drops. I am in for the long term it will rise sooner or later.

  • Steve Cefala

    Silver is a good deal right now. The US dollar is being overvalued and that is what has been hurting precious metals lately.

  • Silver Savior

    I have been buying a lot of 10 ounce silver bars lately right now I can get 2 bars for $350. That is over a pound of silver! Are you kidding me? I have no problem buying at this level but if it goes lower it just means I can get another bar thrown in for free basically.

    I have to buy up while I still can. It’s going to get exciting soon. Buy when the mainstream investors only want paper assets. The joke is on them.

    • John Garcia

      where is a safe place to purchase bars now? where are you getting them, I am in Florida – thanks foxfirewest@yahoo.com

      • Silver Savior

        -See your message I sent you in email-

      • Dan

        I have bought my silver from JMBullion and not disappointed with delivery. What do you think of Sunshine Silver?

        • David Gatewood

          I bought a lot of sunshine silver. When it hits $50, the buyers will not be concerned

      • Casey Jones

        i’ve purchased from apmex a number of times, 0 complaints!

    • Jesse James

      Can you send me link of a good place to buy silver?

      • Silver Savior

        There are many trusted sites but these are the ones I regularly buy from.

        Providentmetals.com
        Scottsdalemint.com
        Jmbullion.com
        Apmex.com

        Each sells the 10 ounce bars as well as coins.

      • M Klein

        Golden Eagle Coins- Laurel,MD
        JM Bullion
        Apmex.com

        Just find sites that offer FREE SHIPPING on orders over 99$. But there is a small downside in buying grams or 1oz bars..Your gonna pay more over spot for smaller denominations then per say 50oz-100oz bars. It’s a tough thing to figure out,how much do I invest?? Nobody has it down pact but IMO with silver under 18.00 oz right now it’s a good buy no matter the spot price. Like I mentioned above it not like silver is gonna just stop being collected and used in EVERYTHING! It’s not dropping down to .75 cents a oz or anywhere near that price. Like the main article states and if his predictions let’s say come true,look at it as a bonus. If you let’s say buy 3000.00 in silver right now just under 18.00 an oz and silver takes a dive. And I mean dive like down to 11.00 an oz,you just buy more or what you purchased originally to knock your (loss) in half and so on. In the end your not gonna lose ALL your investment,I never say impossible in hard asset or stocks which go off need/want Supply+Demand etc. it’s just very VERY unlikely your gonna lose totally like for instance the Dow jones. See my point? Long haul and lower CSA (Cost share average) or Bullion average and eventually you’ll easily Even out and then have a fortune to balence ANY portfolio.

      • Casey Jones

        i’ve purchased from apmex many times, 0 complaints!

      • lovely jb

        Can you send me a link as well? Thanks!

      • David Gatewood

        APMEX

  • M Klein

    The problem is at 17.00 hover right now with the shakey stock market,mostly going up with news silver is bound to be volitle. Trump can whisper a name of a company good or bad and markets fluctuate. He is in total control of Wall Street like it or not. You can be happy for that if your a Trump fan,but if he happens to mention a favorite stock you hold in a negative light,you can lose your ass. I would say at the hover rate you can moderately buy silver. I wouldn’t invest all you money set aside in buying silver in one shot though,just find a company who has free shipping on bullion with sales over 99$. They are out there cause I’ve been looking. Golden Eagle coins in Laurel,Md and Jm bullion 2 sites I use on the regular. I’ve been buying just over the threashold on free shipping as silver goes down .20 here or small uptakes,if it jumps to much I hold out. I just let Trump speak and do a deal that causes market swings and buy (lock in) prices on the fall of bullion. If your in it for the long haul it shouldn’t matter,as long as your CBA (Cost Bullion Average) keeps low so your making money! No Bullion company is gonna get sick of seeing your name on orders coming through their computers buying 100oz bars to ship or buying just over that 99$ mark for free shipping. If Silver was 35-45-55 dollars a oz I’d be much more leery to invest in the metal,but below 20$? It’s a good buy honestly no matter the #s you choose. It’s not like it’s gonna drop down to 1.00 or become irrevelant and not needed or wanted. So if your thinking about making that leap,I’d say do it. If you lose anything it shouldn’t matter right? Just remember LONG HAUL! Keep stacking my friends!