Silver Forecast September 3, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
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The silver markets had an absolutely outstanding day on Friday as the Federal Reserve Chairman Ben Bernanke suggested that the central bank could engage in more U.S. Treasury purchases. This is essentially a form of quantitative easing, and as the ECB is going to be forced into doing the same it makes sense that the precious metals got a bit. After all, the Bank of Japan is aggressively easing its monetary policy, and there are several other banks around the world doing the same.

This is a market that has broken out now that it is above the $30 level. There is absolutely no interest on our part to sell silver at this point in time. In fact, we plan on buying this market every time it dips.

Silver Forecast September 3, 2012, Technical Analysis

Silver Forecast September 3, 2012, Technical Analysis

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