{"id":54937,"date":"2020-09-08T06:51:34","date_gmt":"2020-09-08T11:51:34","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54937"},"modified":"2020-09-08T06:51:34","modified_gmt":"2020-09-08T11:51:34","slug":"another-big-month-for-the-silver-price","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54937","title":{"rendered":"Another Big Month For The Silver Price?"},"content":{"rendered":"<header class=\"entry-header clearfix\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/srsroccoreport.com\/another-big-month-for-the-silver-price\/\">Another Big Month For The Silver Price?<\/a><\/h3>\n<\/header>\n<div class=\"entry-content clearfix\">\n<p>Precious metals investors are wondering if the Silver Rally will continue in September.\u00a0 After the silver price reached nearly $30 in August, it has been consolidating lower over the past few weeks.\u00a0 However, silver tried to surpass the $29 level but fell last week along with the broader markets.\u00a0 So, the trend for silver in September may rely upon the broader markets.<\/p>\n<p>I discussed this in my newest\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=fTvCuW4B8xo\" target=\"_blank\" rel=\"noopener noreferrer\"><em><strong>YouTube video update, Another Big Month For The Silver Price<\/strong><\/em><\/a>?\u00a0 In the video, I explain some of the forces that will impact the silver price in September.<\/p>\n<p><iframe loading=\"lazy\" title=\"Another Big Month For The Silver Price?\" src=\"https:\/\/www.youtube.com\/embed\/fTvCuW4B8xo?wmode=transparent&amp;rel=0&amp;feature=oembed\" width=\"777\" height=\"437\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p><strong>Furthermore, the $26 level on silver\u2019s weekly chart is a significant support level going back ten years.\u00a0 As you can see, once silver broke above the $26 level in late 2010, it remained above it until 2013.<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23554 lazy loaded\" src=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020.png?x71130\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" srcset=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020.png?x71130 1103w, https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020-768x579.png?x71130 768w, https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020-320x240.png?x71130 320w\" alt=\"\" width=\"650\" height=\"490\" data-src=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020.png?x71130\" data-srcset=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020.png?x71130 1103w, https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020-768x579.png?x71130 768w, https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/Silver-Weekly-Chart-Long-Term-26-Level-Sep-04-2020-320x240.png?x71130 320w\" data-sizes=\"(max-width: 650px) 100vw, 650px\" data-was-processed=\"true\" \/><\/p>\n<p>We need to keep an eye on the broader markets as they will be one of the larger drivers of the gold and silver prices in September.\u00a0\u00a0<strong>However, at some point, I believe the precious metals will DISCONNECT from the broader markets as investors move into gold and silver to protect wealth.<\/strong><\/p>\n<p>If you have not seen this article, it\u2019s worth a read as Peru\u2019s silver production declined in July, suggesting that the virus is still impacting the mining industry in the country.<\/p>\n<p><a href=\"https:\/\/srsroccoreport.com\/trouble-in-peru-silver-production-recovery-stalls-as-mine-supply-falls-in-july\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23511 lazy loaded\" src=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/TROUBE-IN-PERU-NEWEST.png?x71130\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" srcset=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/TROUBE-IN-PERU-NEWEST.png?x71130 1104w, https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/TROUBE-IN-PERU-NEWEST-768x294.png?x71130 768w\" alt=\"\" width=\"600\" height=\"229\" data-src=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/TROUBE-IN-PERU-NEWEST.png?x71130\" data-srcset=\"https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/TROUBE-IN-PERU-NEWEST.png?x71130 1104w, https:\/\/dne3f878ovdsc.cloudfront.net\/wp-content\/uploads\/2020\/09\/TROUBE-IN-PERU-NEWEST-768x294.png?x71130 768w\" data-sizes=\"(max-width: 600px) 100vw, 600px\" data-was-processed=\"true\" \/><\/a><\/p>\n<p>With Peru\u2019s silver production declining in July, this could cause more issues in the silver market as investors continue to move into the shiny metal.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Another Big Month For The Silver Price? Precious metals investors are wondering if the Silver Rally will continue in September.\u00a0 After the silver price reached nearly $30 in August, it has been consolidating lower over the past few weeks.\u00a0 However, silver tried to surpass the $29 level but fell last week along with the broader [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1593,647,730,19585,19644,12073],"class_list":["post-54937","post","type-post","status-publish","format-standard","hentry","category-economics","tag-peru","tag-precious-metals","tag-silver","tag-silver-price","tag-silver-production","tag-srsrocco-report"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54937"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54937\/revisions"}],"predecessor-version":[{"id":54938,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54937\/revisions\/54938"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}