It's been another volatile week for the precious metals sector, with the price of silver (SLV) plunging more than 5% from last week's close to a low of $24.00/oz. However, while the volatility may be unnerving some investors, the long-term outlook remains strong, supported by an improving technical picture, negative real rates, and increased demand for silver globally. Hence, I would expect sharp pullbacks in the metal to continue to provide buying opportunities.
Let's take a closer look below:
