The wider macro -economic environment remains favorable for noble metals. Treasury yields fall, where the 10-year yield immerses to 4.168% and the return of 2 years falls to 3.931%, which reduces the opportunity costs of keeping silver. In the meantime, the American dollar index has fallen to 106.78, making silver more attractive for international buyers.
However, Silver’s price action remains more dependent on the industrial question, which is still clouded by uncertainty about the tensions of global trade. New rates imposed by the US to Canada, Mexico and China have expressed concern about economic delays that can weigh on the industrial use of Silver.
Silver Market Prognast: Careful optimism
Silver’s immediate prospects depends on whether it can contain $ 31.81 and get Momentum to $ 32.53. If gold continues its strong upward trend, Silver could follow, but traders will be wary for each retracement back to the 50-day advancing average at $ 31.02.
For the time being, silver remains in a neutral to bullish position, with upward potential as important technical levels. Traders must follow the macro -economic developments, in particular all signals from the federal reserve rate reductions, which can further support silver prices.