The price of silver has been falling recently, and the iShares Silver Trust (NYSEMKT: SLV), which tracks silver, has also been nosediving.
It’s down 8% this year, and at around $63, it’s nowhere near its January high of around $110
Investors have been pivoting to other investments of late as renewed confidence in the markets has driven the S&P 500 up more than 10% this year. But with plenty of question marks and uncertainty around the economy and its direction, could silver rally once again? Could now be a good time to add the iShares Silver Trust to your portfolio?
Why silver may be due for a resurgence What sent silver prices crashing in late January was U.S. President Donald Trump’s announcement of his pick for the next Fed chair, Kevin Warsh, to replace Jerome Powell. Seen as a safe pick, the announcement appeared to inspire greater confidence in the Fed’s path forward.