Last week the world witnessed silver prices drop significantly after having gone up for a little while due to everyone noticing how cheap the silver price was in comparison to gold. But that is of course not the only driving force of the current silver chart analysis, which is why it actually slumped down so much. Namely, two main factors come into play when considering the silver price forecast. The silver price today is a bit far off from $20, and whether it will finally go over that or slide back down depends very much on the global economy as a whole (factor 1) and the US-China trade war (factor 2).
For the moment things seem to be at a rather stand-still position, suggesting that investors aren't overly concerned with the trade war just yet. And a wild sector rotation in stocks that we have significant evidence of does allow hope for a positive outcome. However, it will certainly take a little time for the silver price 2020 to see the effect of it, as investors will first have to exhaust all stocks to flee to before actually starting to direct their money into silver and other precious metals. So we most likely won’t see the silver price at $20 any time soon.
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