{"id":124982,"date":"2024-06-17T09:11:50","date_gmt":"2024-06-17T09:11:50","guid":{"rendered":"https:\/\/kinesis.money\/?p=124982"},"modified":"2024-06-17T11:27:21","modified_gmt":"2024-06-17T11:27:21","slug":"silver-weathers-weak-china-data","status":"publish","type":"post","link":"https:\/\/kinesis.money\/es\/market-analysis\/silver-news\/silver-weathers-weak-china-data\/","title":{"rendered":"Silver Price News: Silver Weathers Weak China Data"},"content":{"rendered":"\n

Like Gold, Silver also has a better day on Friday, adding c. $0.6 an ounce to the resistance level of $29.5 and a weekly gain of $0.4 (+1.1%). Today\u2019s early trading sees silver trending back down towards $29 per ounce.<\/p>\n\n\n\n

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

The large, and somewhat anomalous downward shift in US rate expectations seen at the end of last week has already been detailed in today\u2019s gold commentary. As a non-yielding asset, such a move will have been a support for Friday\u2019s rally although silver has historically been less interest rate sensitive than the yellow metal, as the latter is overwhelmingly used for various forms of investment.<\/p>\n\n\n\n

Real (industrial) demand for silver is also an important driver for silver prices and in this respect Friday\u2019s soft Michigan Consumer Sentiment flash estimate for June might be considered something of a mixed blessing, while the disappointing China lending data for May released earlier in the day, was undoubtedly silver bearish.<\/p>\n\n\n\n

Overnight we have seen further disappointing data in the form of slower than expected China industrial production for May, together with data which re-affirms the problems facing China\u2019s property sector. These remain consistent with a broader picture of falling global economic momentum. Chinese economic data is particularly pertinent as it is the world\u2019s single largest consumer of silver and has a c. 80% global market share of the photovoltaic market.<\/p>\n\n\n\n

In addition to the above, the market calendar for the early part of the week includes US Industrial Production and Retail Sales for May and the EU\u2019s ZEW Economic Sentiment Index for June, all expected on Tuesday.<\/p>\n\n\n\t\t\t

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Mike is a market strategist and media commentator with 30 years of experience analysing precious metals markets.\u00a0\u00a0\u00a0He developed his expertise working as an investment banker in emerging markets such as South Africa, Russia and Chile. His focus on precious metals was extended through subsequent work within private wealth management and his own research consultancy.\u00a0\u00a0\u00a0During this time, he covered the gold, silver, platinum and palladium markets.<\/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.<\/em><\/p>\n

Read our Editorial Guidelines\u00a0here.<\/a><\/em><\/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\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Today\u2019s early trading sees silver trending back down towards $29.0\/toz.<\/p>\n","protected":false},"author":51,"featured_media":125064,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-124982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Weathers Weak China Data | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Monday 17th of June 2024, from leading precious metals analyst Mike Ingram.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Weathers 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