Magical Trade
Wednesday, September 27, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Silver Price Forecast – Silver Markets Shake on Powell Comments

by
December 2, 2021
in Trade News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Silver markets have initially tried to rally during the trading session on Tuesday but gave back the gains rather quickly as we continue to see it reach towards the $22.75 level. Below there, we could really start to break down and go looking towards $21.50, as silver is highly volatile and quite frankly struggling with the idea of a stronger US dollar. Silver is especially sensitive to the greenback, so it will be interesting to see how this plays out over the longer term. I think that given enough time; the usual correlations will come into play but it is also starting to get a little bit oversold.

I am looking for signs of exhaustion to sell after rallies, as I do think this market probably has a bit of a bounce coming. That being said, I would not be a buyer because of all of the negative pressure. I think that the overall trend is still favoring the downside, but we obviously need to see some type of value brought back into the market as far as short-sellers are concerned. I do not necessarily think that we are looking at a scenario that you can plainly see is volatile and unpredictable. We have seen a lot of noise around the idea of inflation and tapering, but while most retail traders look at silver as a potential hedge against inflation, what they do not pay attention to is the fact that bonds can offer real yields eventually, and that in and of itself is much more profitable than paying for storage of silver, which is much more expensive than storing gold because it takes so much more of the metal to make the same amount of cash equivalent.

RELATED POSTS

Buy These Green Hydrogen Stocks, Analyst Says, Forecasting up to 65% Upside

The S&P is heading below 3,000. Basic math (and a metric beloved by famed economist Robert Shiller) suggests it

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

More From FXEMPIRE:

Price of Gold Fundamental Daily Forecast – Powell’s ‘Hawkish’ Remarks Wipe Out Early Gains

European Equities: A Month in Review – November 2021

Dogecoin to be Accepted as Payment for a $10 Million Yacht

Gold Price Prediction – Prices Fall as the Yield Curve Flattens

Big Money Buys Tesla Again and Again

Big Money Loves Microsoft

ShareTweetPin

Related Posts

Buy These Green Hydrogen Stocks, Analyst Says, Forecasting up to 65% Upside

by
September 27, 2023
0

The S&P is heading below 3,000. Basic math (and a metric beloved by famed economist Robert Shiller) suggests it

by
September 27, 2023
0

Wednesday: Durable Goods

by
September 27, 2023
0

The Right Amount of Cash to Keep at Home for Emergencies. Hint: Not $480,000

by
September 26, 2023
0

Elon Musk Says Auto Union’s Demands Would Bankrupt Big Three Carmakers

by
September 26, 2023
0

Next Post

'The crisis is not yet over': Omicron variant could deal another blow to supply chains

Asia-Pacific stocks mixed as uncertainty surrounding omicron variant lingers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Josh Brown says Nvidia’s potential is ‘scary’ ahead of a potential AI boom

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net