I have had the contrarian view that Silver and Gold have one more plunge (this being the final false break out) before entering a new bull market. So far in 2017, Silver and Gold have been strong. However, could the zinc and lead rally be the catalyst to cause the silver (and by extension gold decline)?
Silver is largely a by-product of lead, zinc and copper production.
Around 30% of annual supply comes from primary silver mines while more than a third is produced at lead/zinc mines operations and a further 20% from copper mines.
With the prices of all three up over the past year and zinc and lead at 5 year highs more supply will be coming to market and that means more silver.