However, the proceeds have since been withdrawn if traders are waiting for Thursday’s PPI release for further clarity about inflation trends. A lower than expected PPI lecture can relieve the fears of interest rate increases and offer extra support for gold and silver. Conversely, a stronger wholesaler inflation could increase the yields and pressure metals.
Silver market front views: awaiting an outbreak
The short -term prospects of Silver depend on whether the resistance can remove at $ 32.65. A decisive movement above this level can open the door to a rally to $ 34.87. However, not breaking higher can lead to renewed sales, especially if gold has difficulty retaining its rebound or as an inflation data increase the yields of the treasury.
Traders must keep a close eye on the price promotion of Gold, the inflation reports and the expectations of the Fed Rate. With silver removing important advanced averages, the bullish trend remains intact, but a breakout catalyst is needed for the next leg higher.
More information in our consumer price index (CPI).