After a painful month for silver that saw its price plunge from near $26 an ounce to below $21 an ounce, the metal is finally showing signs of having found its bottom with the price now climbing tentatively back above $21.
There hasn’t been a substantive change to the trading environment with Federal Reserve Chair Jerome Powell reiterating that the US central bank will continue to raise interest rates in June and July.
Live Silver Price – $/oz
This hawkish environment has seen silver punished consistently but it has now found a level where investors have the confidence to support the asset once again.
While the fundamental case remains strong for silver, the likelihood of interest rate rises over the coming months on both sides of the Atlantic hasn’t allowed that case to be heard. For now, silver holders can breathe a sigh of relief that the losses may finally have paused but the road to recovery back to $25 still has lots of bumps ahead.
Rupert is a Market Analyst for Kinesis Money, responsible for updating the community with insights and analysis on the gold and silver markets. He brings with him a breadth of experience in writing about energy and commodities having worked as an oil markets reporter and then precious metals reporter during the seven years he worked at Bloomberg News.
As well as market analysis, Rupert writes longer-form thought leadership pieces on topics ranging from carbon markets, the growth of renewable energy and the challenges of avoiding greenwashing while investing sustainably.
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