It’s been a disappointing year thus far for investors in the silver (SLV) space, with the metal down more than year-to-date and the Silver Miners Index (SIL) plunging more than 20%. However, nothing has changed from a fundamental standpoint, evidenced by negative real rates being deeply in negative territory, and industrial demand for silver remains strong. Taylor Dart breaks down why silver remains a buy as we enter a new year.It’s been a disappointing year thus far for investors in the silver (SLV) space, with the metal down more than year-to-date and the Silver Miners Index (SIL) plunging more than 20%. However, nothing has changed from a fundamental standpoint, evidenced by negative real rates being deeply in negative territory, and industrial demand for silver remains strong.
From a technical standpoint, we haven’t seen any meaningful damage either, with the metal continuing to carve out a massive base-on-base pattern. Let’s take a look below:
(Source: TC2000.com)