{"id":129749,"date":"2024-08-23T08:37:29","date_gmt":"2024-08-23T08:37:29","guid":{"rendered":"https:\/\/kinesis.money\/?p=129749"},"modified":"2024-08-23T08:37:38","modified_gmt":"2024-08-23T08:37:38","slug":"silver-pull-back-month-high","status":"publish","type":"post","link":"https:\/\/kinesis.money\/nl\/market-analysis\/silver-news\/silver-pull-back-month-high\/","title":{"rendered":"Silver Price News: Silver Pulls Back from One-Month High"},"content":{"rendered":"\n

Silver prices<\/a> took a hit on Thursday, sending the grey metal back down to levels seen at the start of the week.<\/p>\n\n\n\n

Prices fell as low as $28.82 an ounce on Thursday, compared with around $29.60 an ounce in late deals on Wednesday. The drop comes in the context of a one-month high of $30.00 an ounce seen on Tuesday.<\/p>\n\n\n

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Silver price ($\/oz) – from Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Silver\u2019s moderate losses were in line with weakness in the gold markets on Thursday, which came as the US dollar rebounded from Wednesday\u2019s lows.<\/p>\n\n\n\n

Monthly manufacturing data for several major economies around the world released on Thursday came in slightly below market expectations in most cases, sending a negative signal for industrial demand for silver.<\/p>\n\n\n\n

On the technical charts, silver\u2019s recent move higher to $30.00 an ounce has been keenly watched, not just because of being a psychological number, but also because this level represents the upper boundary of a declining price channel going back as far as late May. Thursday\u2019s price drop will be seen as reaffirming that downward trend for the time being.<\/p>\n\n\n\n

Elsewhere, attention will be on monetary policy once again on Friday, with central bankers set to gather at the Jackson Hole Symposium in Wyoming on Friday and Saturday. <\/p>\n\n\n\n

US Fed Chair Jerome Powell is set to make a keynote speech during the event on Friday. His comments will be closely watched for signs that the central bank may see inflation coming down enough to justify an interest rate cut in September, and whether this could be as large as a 50-basis point cut.<\/p>\n\n\n\n

Lower interest rates tend to support precious metals prices, and the markets have been betting on cuts of up to 100 basis points in total by the US Fed before the end of the year.<\/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>
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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 took a hit on Thursday, sending the grey metal back down to levels seen at the start of the week. Prices fell as low as $28.82 an ounce on Thursday, compared with around $29.60 an ounce in late deals on Wednesday. The drop comes in the context of a one-month high of $30.00 […]<\/p>\n","protected":false},"author":50,"featured_media":129810,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-129749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Pulls Back from One-Month High - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Friday 23rd 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=\"nl_NL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Price News: Silver Pulls Back from One-Month High\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' silver news analysis for today, Friday 23rd of August 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-pull-back-month-high\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-23T08:37:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-23T08:37:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/08\/silver-feature-image-silver-pulls-back-from-one-month-high.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"529\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Frank Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Geschreven door\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Geschatte leestijd\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-pull-back-month-high\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-pull-back-month-high\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\/\/kinesis.money\/#\/schema\/person\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Silver Price News: Silver Pulls Back from One-Month High\",\"datePublished\":\"2024-08-23T08:37:29+00:00\",\"dateModified\":\"2024-08-23T08:37:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-pull-back-month-high\/\"},\"wordCount\":309,\"image\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-pull-back-month-high\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/08\/silver-feature-image-silver-pulls-back-from-one-month-high.jpg\",\"articleSection\":[\"Silver News\"],\"inLanguage\":\"nl-NL\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/kinesis.money\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-pull-back-month-high\/\",\"url\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-pull-back-month-high\/\",\"name\":\"Silver Price News: Silver Pulls Back from One-Month High - 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