A Monthly Recap of Silver Prices (October 10 - November 11, 2016)
In the second week of October, we saw silver prices hit a steady decline as it hit a low of 17.40 USD/oz on October 14, 2016. This steady decline was caused by the Chinese markets being closed the first week of October. Silver prices started to make a steady recovery the following week, and took a drastic leap on November 1st as it soared above 18 USD/oz. This drastic leap was caused by the anticipation of the US elections that took place on November 8, 2016. Many believed that a win for Donald Trump would cause the silver prices to sky rocket as it did after Brexit, but so far the silver bullion price has declined! While the silver price continues to decline after Trump’s victory, many still believe that the silver bullion price will hit above 20 USD/oz before the year the ends.
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Do you think silver prices will hit above 20 USD/oz before the year ends? Let us know in the comment section below!
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