The silver market is experiencing strong downward pressure along with most of the commodity markets as traders struggle to find anything positive coming out of the bleak macro economic outlook in the United States and Europe.
The dramatic surge in the silver price since the start of political unrest in the Middle East could be tied to the rise in oil futures, and inflationary fears. Oil closed in New York at over $100 a barrel, and many economists, including Fed Chair Ben Bernanke warn that the rise in oil price may cause a rise in the Consumer Price Index.
Silver should do well throughout September, and most silver analysts are confident the metal will soon reach the $21 an ounce highs last seen in March 2008.
The European (and in fact, the global) financial crisis is far from over and will continue to influence the precious metals (and industrial sector) for some time to come. Whether silver will react positively or negatively over the long-run still remains to be seen.
By Melissa Pistilli—Exclusive to Silver Investing News Silver prices are doing well so far into the first two weeks of 2010 steadily rising from the $17 level to test $19 an ounce. On Monday morning, silver danced as high as $18.88 in New York before falling to $18.60 at closing. The white metal was spurred [...]
By Melissa Pistilli-Exclusive to Silver Investing News Advances on Wall Street and Bay Street the last few days have dampened investors’ appetite for the shelter of precious metals. Comforting words from Federal Reserve Chairman Ben Bernanke, who said that the recession could be nearing the end by this year’s close, and positive reports from the [...]
By Melissa Pistilli-Exclusive to Silver Investing News Silver climbed further Monday reaching as high as $12.27/oz. Analysts expect the precious metal to rally further as long as $11.26 support holds. The next level of resistance to watch is $12.80, which may clear the way for an advance towards $13.88. According to the Oil N’ Gold [...]
By Kishori Krishnan Exclusive to Silver Investing News Renewed investor interest in silver, which began in earnest in 2004 and continues today, has ensured that silver price, per ounce, in 2008, averaged a strong $14.98, a nearly 12 per cent increase over the 2007 average price of $13.38; the best average annual price since 1980. [...]
Silver opened at USD 10.32/10.37 and quickly climbed as funds bought the metal responding to a move higher in gold and oil. For full story, click here
Silver inched up a touch to $9.32. Prices were volatile in early Asian trade on Thursday as declining oil prices and a weak equities market prompted selling from speculators. For full story, click here For full story, click here
Thursday, September 29, 2011