Silver markets fell during the course of the day on Friday, dropping well below the $15.00 level in the process. This was accelerated by the fact that the
Silver markets fell during the course of the day on Friday, dropping well below the $15.00 level in the process. This was accelerated by the fact that the Nonfarm Payroll numbers were stronger than anticipated, and as a result the US dollar strengthened quite a bit. Ultimately, it looks as if the $14.50 level will be tested for support, and perhaps broken through. We have no interest in buying silver at the moment, not with the US dollar strengthening the way it has been. Going forward, we believe that a break down below the $40.00 level is catastrophic.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
