Silver remains accessible in the midst of economic uncertainty
Silver (XAG/USD) acts almost $ 30.36 and is confronted with similar headwind as gold. Despite the weakness of the US dollar, silver is struggling to increase profits, since quieter market conditions have reduced the demand for defensive assets. In contrast to gold, silver is more exposed to industrial demand and concern about rates on metals such as aluminum, steel and copper traders.
Weaker than expected US economic data further complicates Silver’s prospects. The US Census Bureau reported a decrease of 2.2% in sustainable freight orders for December, which falls short of expectations. In the meantime, the consumer confidence index of the Conference Board fell in January, which reflects concern about economic resilience. These data points contribute to uncertainty, which usually benefits an advantage of safe port activa, but the absence of immediate financial stress has tempered the upward potential of Silver.
Rate and economic data keeps markets sharp
The prospect of new American rates for important imports, including computer chips, medicines and industrial metals, has expressed concern about possible economic fallout. Although such uncertainty often stimulates the demand of the golden, the lack of immediate market costs have prevented a considerable outbreak.
With the decision of the Federal Reserve threaten and economic indicators that offer mixed signals, gold and silver remain uncertain. Traders will follow the upcoming policy statements and macro -economic data for new directions, because both metals have difficulty finding a strong momentum in the current environment.
Short -term prediction
Golden (XAU/USD) is struggling under $ 2,766, confronted with sales pressure in the midst of FED insecurity. Silver (XAG/USD) remains weak below $ 30.46, with a downward trend line reinforcement of Beerarish Momentum.