Today the Fed spoke about keeping interest rates near 0% even though the economy is growing. This fuels inflation which automatically means the US dollar is getting weaker.
So now the question is, what's going on with silver? How all of a sudden has this become such a precious metal? Well, it actually hasn't.
Like I said before, the weak dollar and traders that are seeing the silver charts breaking all the resistance levels on their screens to new key levels are to 'blame' for the sudden spike in silver.
But is silver overbought?