Silver rate outlook, Feb. 21 -- Ever since recording its worst decline in almost 45 years, silver prices have been consolidating in a range, raising concerns among investors that the white metal may be staring at another period of lull.

Silver is notorious for entering long periods of consolidation. It rarely runs nonstop. History suggests that sharp moves have been followed by cooling periods that have lasted from months to years.

After the 1980 spike near $50 an ounce, prices corrected sharply and remained subdued for almost two decades before the next structural rally, according to data shared by INVasset PMS' Harshal Dasani.

In the more relevant modern cycle, silver touched about $49 in April 2011 and then entered a deep corrective...