Precious metals have been beaten down over the last two months, and the silver price has seen the worst of it. Silver is down 11.3% since Nov. 4. That’s slightly worse than gold’s 11.2% decline over the same period.
But that’s only a short-term pullback.
We’re still bullish on silver prices in 2017, and our new silver price prediction shows the white metal rising 15.8% by the end of Q1 and 46.2% by the end of Q2.
You see, the falling price of silver since last quarter comes from a short-term surge in the U.S. dollar. Data from FactSet shows the dollar currently trades near a 14-year high of 103 basis points. The greenback’s 5.8% gain since November started with the presidential election and continued with last month’s interest rate hike. A strong dollar makes dollar-priced metals like silver and gold more expensive in other currencies, which lowers demand.
Best Gold Stocks To Buy For 2018: Marathon Petroleum Corporation(MPC)
- [By WWW.MONEYSHOW.COM]
Marathon Petroleum Corporation (MPC) is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio, explains dividend reinvestment expert Vita Nelson, editor of DirectInvesting.
- [By Stephen Mack]
We’ve seen this happen before. In December, shares of Russian oil company Rosneft jumped 21% in two weeks when it was acquired by Glencore Plc. (LON: GLEN). And back in 2015, MarkWest Energy Partners LP (NYSE: MWE) enjoyed a similar jump when it was acquired by Marathon Petroleum Corp (NYSE: MPC).
Best Gold Stocks To Buy For 2018: Tencent Holdings Ltd (700)
- [By Belinda Cao]
Sohu.com Inc. (SOHU), which sold a stake in its search unit to Tencent Holdings Ltd. (700), advanced 11 percent for the week to $72.06. It retreated 5.9 percent Sept. 20. Tencent, Chinas biggest Internet company by market value, paid $448 million for a 36.5 percent stake in Sohus Sogou unit last week and merge its own search service with Sogou.
Best Gold Stocks To Buy For 2018: BioPharmX Corporation(BPMX)
- [By Lisa Levin]
Shares of BioPharmX Corp (NYSE: BPMX) were down 31 percent to $1.02 after the company announced the pricing of 3.6 million share common stock.
Puma Biotechnology Inc (NYSE: PBYI) was down, falling around 22 percent to $27.53 after the company issued an update to the timeline for the filing of a new drug application. Puma Biotechnology will submit the NDA for neratinib in mid-2016. According to a press release, the decision was based on the company’s recent meetings with the U.S. Food and Drug Administration.