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  1. #1
    Legendry Member milos's Avatar

    Price of silver fell due to uncertainty !!!

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    Price of silver fell due to uncertainty about future Fed's stimulus program which puts pressure on the demand for the precious metal. Movement of the price of silver this year mainly dictated by the expectation that the Fed's previous bond buying program abort. On the New York Mercantile Exchange in silver for delivery in September traded at $19.24 an ounce, The bottom was recorded during the previous trade at $19.15 an ounce, Investors are focused on US economic data to assess whether to strengthen or weaken the Federal Reserve's decision to reduce the bond buying program or scrap it altogether. Any improvement in the US economy is likely to strengthen the central's bank stance on the change of quantitative easing in the coming months.

  2. #2
    Legendry Member milos's Avatar
    Last week silver has failed to move with bear trend due to turbulence in the sector. This week following, the ups and downs, silver continued to grow. Price of silver has risen and is the highest level since mid-June, as investors focused on the publication of a series the US economic data later in the day, because they are relate to the future of the Fed's stimulus program. Movement of the price of silver this year largely follow the steps and plans for the US central bank. On the New York Mercantile Exchange, silver for delivery in September traded at $22 per ounce. Price of silver is likely to test support at $20.63 an ounce,the low of 12 August and short term resistance at $23.5 an ounce today.

  3. #3
    Specialist Member runneroption's Avatar
    Quote Originally Posted by milos View Post
    Last week silver has failed to move with bear trend due to turbulence in the sector. This week following, the ups and downs, silver continued to grow. Price of silver has risen and is the highest level since mid-June, as investors focused on the publication of a series the US economic data later in the day, because they are relate to the future of the Fed's stimulus program. Movement of the price of silver this year largely follow the steps and plans for the US central bank. On the New York Mercantile Exchange, silver for delivery in September traded at $22 per ounce. Price of silver is likely to test support at $20.63 an ounce,the low of 12 August and short term resistance at $23.5 an ounce today.
    Silver couldn’t move higher today. It is stuck at $23.19 level and is impossible to break that resistance level. I think this week will be ranging with some downside moves, so now is the time to wait and not to enter too early in the bullish enthusiasm.

  4. #4
    Legendry Member milos's Avatar
    Quote Originally Posted by runneroption View Post
    Silver couldn’t move higher today. It is stuck at $23.19 level and is impossible to break that resistance level. I think this week will be ranging with some downside moves, so now is the time to wait and not to enter too early in the bullish enthusiasm.
    Did you see the charts? The silver was reached the peak $23.577 per ounce during the Asian and European trading session.I have been watching the price movement during the whole trading session of global market not only the US market.

  5. #5
    Legendry Member milos's Avatar
    Silver price fell today as investors locked in profits from them a one weak peak was recorded during yesterday's trading. On the New York Mercantile Exchange silver for December delivery traded ad $23.85 an ounce. Support was likely to find at $23.12 an ounce, the low of 2 September and resistance at $25.16 an ounce, the high of 28 August. Silver price sharply rose yesterday after a series of positive economic data on production from the US,China and Europe, prompting optimism in the global economy. Manufacturing is a key driver of demand for silver as it is used in solar panels and electronics as well as jewelry. Traders are being focused on key macroeconomic data from the US that will be released later this week and will likely determine when the Fed will start to reduce their incentives. Improving the US economy will allow the central bank to tighten bond buying program.

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