Silver is defending the $14 price level so far tonight.
Been hovering right above $14, at $14.05 now.
In addition to all commodities getting smacked on price such as oil, silver is at risk of an interest rate increase. Yeah, this is the same thing as a strong dollar, but we have that already with basically a zero interest rate policy, so raising them should take the dollar into the stratosphere.
Now will one measly 25 basis point (0.25%) rate hike do anything really, not much. It will send the signal for things to come perhaps, or maybe even things that have now passed, who knows. If you see three or 4 of those so we get a 100 basis point (1%) rate hike, and I think the dollar will go nuts and gold and silver will push to lows we haven't seen in quite some time. Probably single digits in silver and certainly sub $1000 on gold. Heck, gold could get there any day. Gold may drop sub $750, maybe even sub $500.
Personally I don't think we will ever get out four 25 basis point increases before having to reverse course, but what do I know. I know I will be buying silver like a mad man in the single digits, though you could say that about someone that bought it at $25 now too.
