{"id":124751,"date":"2024-06-12T09:13:51","date_gmt":"2024-06-12T09:13:51","guid":{"rendered":"https:\/\/kinesis.money\/?p=124751"},"modified":"2024-06-12T09:13:51","modified_gmt":"2024-06-12T09:13:51","slug":"silver-falls-below-29-50","status":"publish","type":"post","link":"https:\/\/kinesis.money\/de\/market-analysis\/silver-news\/silver-falls-below-29-50\/","title":{"rendered":"Silver Price News: Silver Falls Below $29.50 an Ounce"},"content":{"rendered":"\n

Silver prices eased by about 1.5% on Tuesday, as the precious metals markets continued to look more subdued after falling back from recent long-term highs.<\/p>\n\n\n\n

Silver prices fell as low as $29.07 an ounce on Tuesday, before edging higher to around $29.27 an ounce<\/a> later in the day. That compared with around $29.80 an ounce in late trades on Monday.<\/p>\n\n\n\n

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KAG\/USD 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n\n\n\n

A more cautious mood emerged in the silver market this week after last Friday\u2019s sharp drop from as high as $31.54 an ounce. Silver posted its highest price for 11 years on May 28 at over $32.60 an ounce.<\/p>\n\n\n\n

As recently highlighted, May\u2019s \u2018double top\u2019 price formation for silver was a distinctly bearish indicator, as it showed that prices had failed to surpass the previous highs of over $32.00 an ounce. This suggested little appetite in the market to move to fresh highs, indicating a greater chance of a downward move in the short-term.<\/p>\n\n\n\n

Nevertheless, gold prices managed a slight recovery on Tuesday, and this could help stabilise silver prices if the yellow metal\u2019s gains continue over the coming days.<\/p>\n\n\n\n

The precious metals markets were looking ahead to Wednesday\u2019s release of US inflation figures for May, as traders scan for signals on the timing of interest rate cuts later in the year. The US Fed is set to make an interest rate decision on Wednesday, although few in the market expect any changes to the current 5.5% rate at this juncture.<\/p>\n\n\n\n

Thursday will see further clues on inflation in the shape of the US Producer Price Inflation figures, which will give the latest snapshot on factory gate prices in May, followed by the Michigan consumer sentiment figures for June on Friday.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Silver prices eased by about 1.5% on Tuesday, as the precious metals markets continued to look more subdued after falling back from recent long-term highs.<\/p>\n","protected":false},"author":50,"featured_media":124806,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-124751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Falls Below $29.50 an Ounce | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Wednesday 12th of June 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta 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