Silver markets fell rather drastically during the course of the week, slicing through the $17 level. In fact, by the end of the week we were testing the
Silver markets fell rather drastically during the course of the week, slicing through the $17 level. In fact, by the end of the week we were testing the $16.50 level, so this of course is a very negative sign. It makes a lot of sense, because the US dollar has been climbing and it looks as if we will start getting interest-rate hikes. It also makes sense due to the fact that the currency markets continue to punish other currencies around the world. With this, silver should continue to go lower from here.
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.
