Silver Fundamental Analysis August 27, 2012, Forecast

Posted August 24, 2012 14:32 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Silver surprised the markets today only dipping slightly to remain over the 30 price level. Silver is trading at 30.445 down 0.04% while gold dipped 0.15% in the earlier part of today’s session. Spot silver prices gained 2.2 percent yesterday taking cues from the strength in the Spot gold prices and upside in the base metals pack. Additionally, weakness in the DX also helped upside in the silver prices. After the release of the US durable goods report, the US dollar index turned positive and might have an effect on prices as markets prepare to close of the weekend.

Base metals pack traded slightly higher on the LME in today’s trading session. However, sharp gains were capped on account of weak sentiments in the global markets along with strength in the US dollar index. In addition to this, escalating tensions with respect to Greece’s debt crisis and slowdown in US and China has also increased demand fear for metals

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data August 24, 2012 actual v. forecast

Date

Time

Currency

Importance

Event

Actual

Forecast

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Aug. 24

00:30

AUD

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