{"id":128852,"date":"2024-08-07T09:55:43","date_gmt":"2024-08-07T09:55:43","guid":{"rendered":"https:\/\/kinesis.money\/?p=128852"},"modified":"2024-08-07T12:35:28","modified_gmt":"2024-08-07T12:35:28","slug":"silver-tests-below-27","status":"publish","type":"post","link":"https:\/\/kinesis.money\/it\/market-analysis\/silver-news\/silver-tests-below-27\/","title":{"rendered":"Silver Price News: Silver Tests Levels Below $27.00 An Ounce"},"content":{"rendered":"\n

Silver prices ticked lower on Tuesday, although the market showed tentative signs of stabilising after falling to a three-month low on Monday.<\/p>\n\n\n\n

Prices nudged lower to $26.66 an ounce<\/a> on Tuesday before pulling back up to just under $27.00 an ounce later in the session. That compared with around $27.30 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

The precious metals got caught up in the wider financial market meltdown seen on Monday, which added to losses of around $6.4 trillion for share prices around the world over the last three weeks, according to news reports.<\/p>\n\n\n\n

This appeared to weigh on gold prices as traders may have been forced to cover margin calls by selling out of positions in precious metals. This may have neutralised any support that would have emerged for safe haven assets amid the stock market turmoil.<\/p>\n\n\n\n

The stock market sell-off came amid concerns over growth in the US economy after a raft of bearish figures were released in recent days, including non-farm payrolls, unemployment figures and manufacturing which all came in below market expectations.<\/p>\n\n\n\n

The markets now appear to be banking on a 50-basis point cut to US interest rates in September, and there has even been talk of a rate cut outside of the Fed\u2019s normal meeting schedule.<\/p>\n\n\n\n

Since around 50% of demand for silver comes from the industrial sectors, any slowdown in growth tends to have a more acute effect on silver than gold, which benefits more from safe-haven flows during times of economic trouble. <\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> 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 ticked lower on Tuesday, although the market showed tentative signs of stabilising after falling to a three-month low on Monday.<\/p>\n","protected":false},"author":50,"featured_media":128922,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[194,214],"tags":[],"class_list":["post-128852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Tests Levels Below $27.00 An Ounce | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Wednesday 7th of August 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=\"it_IT\" \/>\n<meta property=\"og:type\" 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