The silver markets rallied enough during the day to make a fresh, new high, but did pullback a little bit. Silver markets will probably be boosted
The silver markets rallied enough during the day to make a fresh, new high, but did pullback a little bit. Silver markets will probably be boosted slightly due to the fact that the St. Louis Federal Reserve Pres. James Bullard suggested that only one interest-rate hike would be needed. With that being the case, it gives us a little bit more clarity when it comes to interest rates in the United States, and that of course can have a significant influence on the metals markets. A break above the highs for the day should send this market looking for the $18.50 level.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
