Is silver a good bet to rise?

If you have been watching the price of silver lately you would know that in the last 6 months the price of silver has fallen from $20, as it was back in July of last year, to $16 as of time of this post. Many were predicting that the price of silver would have been back at 20 dollars at the start of 2017 as many were expecting interest rates to increase.

A few things happened along the way to ensure that silver did not rise to $20 dollars at the start of 2017. 

1. Interest rates were raised which had a profound effect on the price of silver, which investors use to hedge against a weaker dollar. With the dollar strengthening after the rise in interest rates the price of silver declined as the paper became the better option

2. We have a new president that one would have thought would have driven the price of precious metals higher but has instead kept the prices lower. Markets seem to have reacted favorably to the incoming president Donald Trump.

Silver also seems to have considerable support at 16 dollars as there has not been a huge sell off and we are just now seeing signs of silver heading back up towards $17 dollars. The indications would seem to say that silver is at its lowest point for now, possibly making it a good time to buy more.