Silver Fundamental Analysis July 16, 2012, Forecast

Posted July 13, 2012 13:46 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Silver is trading at 27.223 adding 0.062 in a strong trading day. Silver benefited from the precious metals and the industrial metals pack today as investors were relieved that the Chinese GDP and other data reported in line with forecasts.

Market sentiments to some extent were on the positive side as weak economic indicators from China incited hopes that the country may resort to aggressive monetary policy easing to support economic growth. Commodities and equities were seen moving higher. Weakness in Euro following the downgrade of Italy’s credit ratings by the Moody’s near to junk weighed on the overall sentiments. Yet, Italy was successful in selling the planned amount of bonds in the auction earlier today. Precious metals were seen rising after the Chinese data, extending the rebound seen in the previous session. Spot gold and silver gained around 0.6 per cent and one per cent respectively probably heading to end the session on a positive note. Base metal complex in LME as well as in Shanghai were on a greener turf

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 July 13, 2012 actual v. forecast

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Jul. 13