Silver Weekly Fundamental Analysis December 31, 2012 – January 4, 2013, Forecast

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Updated: Aug 21, 2015, 02:00 UTC

Introduction: Silver futures are standardized, exchange-traded contracts in which the contract buyer agrees to take delivery, from the seller, a specific

Silver Weekly Fundamental Analysis December 31, 2012 – January 4, 2013, Forecast

Introduction: Silver futures are standardized, exchange-traded contracts in which the contract buyer agrees to take delivery, from the seller, a specific quantity of silver (eg. 30000 grams) at a predetermined price on a future delivery date.

Silver futures are also traded by speculators who assume the price risk that hedgers try to avoid in return for a chance to profit from favorable silver price movement. Speculators buy silver futures when they believe that silver prices will go up. Conversely, they will sell silver futures when they think that silver prices will fall.

Weekly Analysis and Recommendations:

Silver ended the week at 30.040 barely over the 30 price level. Overall for the week it traded in a fairly close range between the upper 29 and a slight edge over 30.00. As precious metals increase industrial metals decrease and vice versa as the week drew to a close. Traders in precious metals were pretty much sidelined having taken profits before year end and held back by the US economic problems. Lawmakers seem to be unable to resolve the financial changes that automatically come into play on January 1, 2013.

Date	Last	Open	High	Low	Change %
Dec 28, 2012	30.040	30.190	30.365	29.908	-0.49%
Dec 27, 2012	30.188	30.072	30.513	29.728	0.37%
Dec 26, 2012	30.078	29.940	30.250	29.875	0.46%
Dec 25, 2012	29.940	29.960	30.050	29.940	-0.02%
Dec 24, 2012	29.945	30.125	30.390	29.865	-0.60%

Traders seem uncomfortable to be in the markets with the US drama and the holiday so silver traded with light volumes making little headway all week.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Major Economic Events for the week of December 24 -28 actual v. forecast for Euro, GPB, the Franc, and USD

Date	Currency	Event	Actual	Forecast	Previous
Dec. 27	GBP	BBA Mortgage Approvals	33.6K	34.6K	33.1K
	USD	Initial Jobless Claims	350K	360K	362K
	USD	Continuing Jobless Claims	3206K	3200K	3238K
	USD	CB Consumer Confidence	65.1	70.0	71.5
	USD	New Home Sales	377K	378K	361K
Dec. 28	EUR	French Consumer Spending (MoM)	0.2%	0.1%	-0.1%
	EUR	French GDP (QoQ)	0.1%	0.2%	0.2%
	EUR	Italian 10-Year BTP Auction	4.48%		4.45%
	USD	Chicago PMI	51.6	51.0	50.4
	USD	Pending Home Sales (MoM)	1.7%	1.0%	5.0%

Historical: From 2010 to present

Highest: 49.813 on Apr 25, 2011

Average: 28.468 over this period.

Lowest: 14.655 on Feb 05, 2010

Economic Highlights of the coming week that affect the Euro, GBP, CHF and the USD

Date	Time	Currency	Event	Forecast	Previous
Jan. 01	01:00	CNY	Chinese Manufacturing PMI	51.00	50.60
Jan. 02	00:00	EUR	German CPI (MoM)	0.7%	-0.1%
	00:00	EUR	German CPI (YoY)	1.9%	1.9%
	08:00	CHF	KOF Leading Indicators	1.38	1.50
	15:00	USD	ISM Manufacturing Index	50.2	49.5
Jan. 03	08:00	CHF	KOF Leading Indicators	1.35	1.50
	08:30	CHF	SVME PMI	48.5	48.5
	08:55	EUR	German Unemployment Change	10K	5K