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The silver markets fell on Friday as the “risk off” trade continues. The markets fell to support during the session, and as a result we look to buy on the first signs of support via the daily candle. The silver markets will continue to have a bid in them as the central banks continue to print currency, and keep monetary policy easy. This should continue to cause demand for precious metals, and this should keep silver higher over the long run.
The metal also benefits from the industrial side of the equation as well. If global economic conditions pick up, this should drive demand from the industrial point of view as it is used in so many different applications. We think the long-term direction is still up, and as such are looking to buy only.