Silver Fundamental Analysis September 11, 2012, Forecast

Posted September 10, 2012 15:40 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendations:

Silver dipped a bit today as traders took advantage of the high prices to take profit, also poor eco data from China ( see data below ) weighed on industrial metals with production declining.

Silver is trading at 33.603 off by 0.087.

Precious metals soared last week after the ECB introduced their new Outright Monetary Transaction program to bailout or reduce borrowing costs for ailing nations.

But it was the nonfarm payroll report in the US that sealed the deal on QE from the Feds that pushed metals and commodities to new highs.

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 September 10, 2012 actual v. forecast

Date	Time	Currency	Event	Actual	Forecast	Previous
Sep. 10	00:50	JPY	Adjusted Current Account	0.34T	0.39T	0.77T
	00:50	JPY	GDP (QoQ)	0.2%	0.3%	0.3%
	00:50	JPY	GDP Price Index (YoY)	-0.9%	-1.1%	-1.1%
	00:50	JPY	Bank Lending (YoY)	0.9%		0.7%
	02:00	CNY	Chinese Trade Balance	26.66B	19.80B	25.10B
	02:00	CNY	Chinese Exports (YoY)	2.70%	3.00%	1.00%
	02:30	AUD	Home Loans (MoM)	-1.0%	0.1%	1.0%

Chinese Economic Data released on September 9, 2012 actual v. forecast ( this is important )

Sep. 09