Silver prices drop more than 1.50% in the week and remain below the $20.00 mark.
The pressure for gold and silver to the downside should remain for the first half of this week. This is because of the high inflation print means expectations have now risen for the number of Fed rate hikes. This has pressured both the USD and real yields higher which are both natural headwinds for gold and silver. The usual reaction is that as yields and the USD rise then gold and silver fall.
Before we start investing in silver, it is good to delve a little bit more to have a better understanding of silver.
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Commodity Currencies
Gold and silver are often referred to as “commodity currencies” because of their high value relative to other currencies and their status as a store of value during uncertain economic times. Although there is some debate as to whether gold or silver should be regarded as a true currency,...