Silver Price Forecast – Silver Markets Continue To Be Flat

Silver markets went back and forth during the trading session on Thursday, showing signs of exhaustion and a bit of a “back-and-forth” type of scenario. I think at this point it’s likely that we are going to continue to see a lot of this as the market as we see a lot of traders simply waiting for the holidays. The $17.00 level of course is a significant round figure, so that comes into play as well. Liquidity will be an issue, and quite frankly this is a market that will be waiting for headlines coming out of the US/China trade situation.

SILVER Video 20.12.19

The precious metals markets are essentially a “safe haven” when it comes to global situations, and the US/China trade situation is without a doubt one of the biggest once. The market needs to get a bit of clarity before they can decide whether or not the “phase 1 deal” is something to be celebrated. Quite frankly, we are very light on details at this point and therefore it’s likely that we will continue to see the market react to that latest headlines. Do not expect much in the way of headlines between now and New Year’s Day though, as most people will be focusing on the season more than anything else. At this point in time, it’s likely that the markets will put most traders to sleep over the next couple of sessions, but if we do get some type of movement, it’s likely that the headlines will be the main driver. Otherwise, I anticipate that this market simply goes back and forth.

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