Over the last month, gold prices have surged, tacking on over 3% in just the last two weeks.
And it looks like silver prices are next.
You see, I believe we're entering a sweet spot for the price of silver over the next few months.
Market turmoil and a weaker U.S. dollar are setting the stage for a significant rally in the precious metal – one that will shrink the gold-to-silver ratio and make silver holders a killing in the process.
As silver plays catch-up with gold, the metal's near-term outlook is looking increasingly bullish…
Last week, silver struggled as the U.S. Dollar Index (DXY) rallied to a new recent high of 96.14.
That was simply too much headwind for silver prices, which caved to the pressure and sold down to $14.24 on Tuesday (Oct. 9).
Wednesday (Oct. 10) was rough on stocks, with the S&P 500 dropping 95 points (3.3%) and the Dow losing 830 points (3.15%), while the 10-year Treasury rose to a record 3.22% yield.
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Silver dropped along with the stock market to $14.22 by midmorning before recovering right before the close to $14.28.
Thursday (Oct. 11) generated the real action for the precious metal as the DXY fell, testing the 95 support level. The S&P 500 fell to 2,710 before recuperating to close at 2,728.
Uncertainty in the dollar and institutional stocks was enough to boost sliver prices, pushing them to $14.56 by close.
You can see the dollar's rapid decline in this chart…
Silver managed to hang onto its gains for most of Friday (Oct. 12), closing at $14.58.
With the dollar continuing to weaken on Monday (Oct. 15), silver continued to gain, jumping to $14.67 by close.
With international pressures continuing to drag the dollar south, I think this trend is likely to continue.
And it could send prices higher than Wall Street is expecting…