What's up YouTube Silver dragons here in This video I want to talk about the Price of silver currently it is floating Around 18 per ounce however back in March of 2022 silver was over 26 dollars Per ounce so over the last seven months We've actually seen a greater than eight Dollar drop in the spot price of silver So what I want to do is talk about where I see silver going through the end of 2022 and then where I see it going in 2023 also I will talk about what I will Be personally doing in regard to Silver Stacking and silver investing throughout That time and moving forward so let's do It Foreign [Music] Thank you so much for watching my video I do sincerely appreciate it if you want To learn more about investing in Precious metals or if you just want to Watch awesome videos about gold and Silver make sure to subscribe to my YouTube channel okay so before I talk About this one year silver chart a Little bit more I wanted to point out Where silver is at right now this chart Here is showing the silver spot price Changes over the last week and every Single day it has gone down so almost a 10 drop over the last week in the price Of silver we will see trading open up Tonight and moving into Monday it's
Probably going to move lower next week And there's a few reasons that I think That and we'll get to those in a moment But if we go back to the one year chart I just wanted to mention that the high When silver hit 26.36 this was back on March 8th it is Also when gold hit its high this was Just two weeks after the the Russian Invasion of Ukraine so there was a lot Of uncertainty going on at that time we Had not really seen the U.S dollar Spike Up I mean right now the US dollar is at 20-year highs it's doing extremely well Compared to the euro and other Currencies but really since that point In time we've seen Silver Price Fluctuate a little bit up and down but Overall it's been a downward trajectory So as the dollar continues to strengthen We continue to see silver price fall now Why is the dollar strengthening if we Look at the most recent inflation news You would think that the dollar is Actually getting weaker the dollar is Doing worse than expected right I mean This headline here inflation climbed More than expected in September 2022 Rising food housing and medical costs Pushed prices higher than anticipated And I just want to scroll down to the Key takeaways here so the CPI Rose 0.4 Percent in September compared to a month Earlier and 8.2 percent year-over-year
Higher than economists expected core Inflation which excludes volatile food And energy costs Rose 0.6 percent in September and 6.6 percent from a year Ago a 40-year high so what's up with This core inflation is at a 40-year high But the dollar is at a 20-year high this Doesn't seem to make sense right Rising Costs for housing food and Medical Care Contributed the most to September's Monthly increase and finally here is the Reason that the dollar is actually Getting stronger the hotter than Expected inflation reading could prompt The Federal Reserve to maintain its Aggressive monetary policy stance ahead Of its November policy meeting so what Is up with this what is the Fed doing in Response months to all of this inflation Here we are looking at the CME Group Fedwatch tool now they basically give Out probabilities for the next fed Meeting these are the percentage chance Of certain rate hikes and as we can see There is a 97.2 percent chance that they're going To do another 75 basis point rate hike So as the FED continues to raise rates This is essentially strengthening the Dollar and when we look at the Dollar's Strength we look at the dollar strength Versus other currencies so if other Currencies for example the Euro are Doing a lot worse than the dollar this
Will make the dollar seem a lot stronger And this is going to drive silver price Lower right so in November it's looking Like the dollar is going to get stronger Again if we move to December we can see They have a 69.8 percent chance of yet another 75 basis point rate hike so it looks Like the dollar is going to get stronger In December as well and then if we move To February of 2023 they're actually Saying the highest percentage chance is Just a 25 basis point rate hike so they Think that the FED is going to slow down On the rate hikes in February of 2023 And at this point maybe we will finally See the dollar not get stronger and Maybe perhaps even get weaker and we Could see the price of silver start to Go higher if we take a look at the most Recent Jim Wyckoff article the headline Is price pressure on gold silver after Another hot U.S inflation report so I Think if we continue to see inflation go Up basically the FED is going to say all Right we need to continue to fight Inflation we need to continue to raise Rates so until LBC inflation kind of Level off or go down it's very likely That they're going to keep on jacking up Rates which is again going to push the Price of silver lower now if we scroll All the way down to the bottom of this Article we can see the 24 hour silver
Spot price uh look it went down on the 12th the 13th is in red we had that big Drop when the inflation report came out Then it did bounce back and then on Friday we saw the price of silver moved Down quite a bit so I kind of feel like On Monday it's a toss-up you know is it Going to go up and kind of rebound from This low here or is it going to continue To go down I honestly don't know what's Going to happen but either way I think Through the rest of the year we probably Are going to see silver price move lower And I did want to read this part right Here so he writes September silver Futures Bears have the firm overall Near-term technical advantage and have Momentum right so the Bears have have Momentum silver Bulls next upside price Objective is closing prices above solid Technical resistance at the October high Of 2131 I don't think we're going to get To that 2131 the next downside price Objective for the Bears is closing Prices below solid support at the September low of 1740. to me this seems Much more likely first resistance is Seen at 19 and then at the overnight High of 1929 neck support is seen at 1825 and then at 18 yeah 18.25 I mean Right now the price of silver is let me Move the screen up a little bit here 1829 so we're really close to that 1825 And then there's another support at 18
Bucks it's very possible we could blow Right through that the white cops Market Rating he has at 2.5 remember this is a Scale of 1 to 10 one being the most Bearish 10 being the most bullish so He's sees the market as very bearish Right now so yeah I mean over the next Week I likely think we will see silver Price keep moving lower so what does This mean should you be buying should You be selling should you be holding What should you be doing my honest Opinion is that you should buy more Silver try to be a contrarian investor Buy when the price is down not when the Price is up so yeah we've seen silver Spot price drop eight dollars over the Last seven months so what take advantage Of this opportunity and continue to Stack more silver while the price is low And once it starts going up I think it's Going to be an insane rally I've talked About where I see silver going this Decade you know I think 50 silver is Definitely on the table for the 2020s so You know I don't know if that's gonna Happen in 2023 2024 or when but I Definitely see that happening in the Somewhat near future you know could Silver go all the way up to a hundred Dollars an ounce who knows you know once Silver starts moving up it moves up very Very quickly you know I did talk about The dollar being at 20-year highs a lot
Of the time when we see a dramatic swing In One Direction you know the dollar Getting stronger stronger stronger Stronger eventually it slows and stops And then it starts swinging the other Way and we see the dollars start to get Weaker weaker weaker and really during That period of time I think that's when We're going to see silver Shine the most So yeah this decade I see a really Bright future for silver and I say just Take advantage of these low prices now Through the end of the year you know how Low is silver going to get can we see 17 Silver 1615 sure we could see silver Spot price go all the way down into the 15 range but again you gotta remember Premiums on physical silver have been Very high over the last few years so I Do feel like premiums would go up if Spot price goes that low and so you Still might not be able to buy silver For under 20 an ounce even though spot Price goes all the way down to 15. so Why say start buying silver now or Continue to buy silver now at dollar Cost average through the end of the year Through February and then we'll see what Happens at that point but once silver Price starts shooting up I say slow down On your purchases I do see that Happening next year and for years to Come after that so I do want to quickly Mention that there is a giveaway going
On right now where you can win one of These really cool silver dragons Silverbacks made out of pure silver There will be 10 000 winners if you want To enter this giveaway feel free to Check it out I will put a link Down Below in this description and I do want To know what are your thoughts on silver Price where do you see it going over the Next year feel free to leave a comment Down Below in the comment section and Lastly I want to say a massive thank you So much for watching my video and I will See you all in the next one silver Dragons out
