Silver Fundamental Analysis July 24, 2012, Forecast

Analysis and Recommendations:

Silver is trading late in the day at 26.80 down over 1.84% taking cues from downside in gold and base metals prices, Spot silver prices declined 1.3 percent today. Additionally, strength in the DX also acted as a negative factor for the silver prices. The white metal touched an intraday low of $26.72/oz and hovered around $26.83/oz

As investors shied away from anything connected with the eurozone, the euro plummeted to 11 year lows pressurizing both precious metal and industrial metals. Also comments from an advisor to the People Bank of China, that China may see growth decline to 7.4% by year end, left the markets worried.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data July 23, 2012 actual v. forecast

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Government Bond Auctions

Date  Time  Country 

Jul 24  08:30  Netherlands

Jul 24  08:30  Spain 

Jul 24  15:30  Italy

Jul 24  17:00  US

Jul 25  09:30  Germany

Jul 25  15:30  Italy

Jul 25  17:00  US

Jul 26  00:30  Japan