Silver rose nearly 163% from its Coronavirus-panic lows of $11.30 to its peak on August 6 of $29.82. However, following that incredible rise, silver has since fallen dramatically: from its August 6 peak down to its September 23 low of $21.64 is a drop of nearly 28% in just six weeks. As this article is going to press, the precious metal is trading in the middle region of that range at $24.50.

What is ahead for silver? Is this sell-off over, or is there more downside to come?

Our analysis suggests that silver is within the midst of a wide and volatile consolidation that will resolve upward within the next several months. Keep reading to learn why we expect silver to move above $30 per ounce into 2021.

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