Silver Fundamental Analysis October 2, 2012, Forecast

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Silver is in an uptrend just like gold, but has not moved higher with the same conviction as the yellow metal. Demand is there for silver, but traders have been more confident buying breaks rather than strength. Another sign that silver has been lagging behind gold is the fact that gold reached a new high for the year on Monday, but silver is still a few dollars under its high. Traders should look for silver to work higher on Tuesday because of increasing upside momentum and on expectations of a weaker Dollar. As long as there is demand for higher risk assets, look for the dollar to remain under pressure and silver to be underpinned. The weaker dollar makes the price of silver more appealing to foreign investors. 

 

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About: FX Empire Analyst - James Hyerczyk

James A. Hyerczyk has worked as a fundamental and technical financial market analyst since 1982. His technical work features the pattern, price and time analysis techniques of W.D. Gann.

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