China may turn out to be a major wildcard for the silver market and price in the future. There are two parts of the equation in regards to the Chinese silver market that are explained in my newest video update.Also, after the silver price shot up to $19.75 rather quickly, what’s next for the shiny metal?

Some analysts are suggesting that the silver price is overbought on a weekly basis and may experience a significant correction. While it is normal for an asset price to correct after a large run-up, the precious metals seem to be heading into NEW TERRITORY. Sure, the silver price could experience a correction after shooting up $5.50 over the past few months, but it could also remain overbought for an extended period, very similar to its price action in late 2010.

Video Length: 00:20:49

One of the important aspects discussed in the video is China’s heavy reliance on the Base Metal Mining Industry to supply the overwhelming majority of its silver needs. The chart below shows how Asia, mostly China, receives only 3% of its silver mine supply from primary silver production.

Why is the data in this chart relevant? Again, I explain it in the video with several more charts why China could be a Major Wildcard for the silver market and price moving forward.