What a difference a day makes. Actually not really. I still think the prudent thing to do is to wait for some kind of silver price consolidation before thinking about deploying more funds into silver. The market’s reaction to the FED’S meeting and Bernanke’s speech are pretty clear. No need to waste your time watching or reading it. The printing and buying up of bonds will continue. So for now the consequences for the market are still the same:

• Commodities are still the place to be.
• Precious metals still offer the best protection.
• Stocks are perceived to be a viable way to protect from inflation.
• Over time the US$ Dollar goes lower. The longer this continues the higher the risk of losing reserve currency status.

I have updated the Silver price chart on my public list. Another great way to analyze Silver would be to use SLV – Silver ETF as a gauge as it allows for a volume analysis.

Up-to-date Silver price chart on my public list