{"id":128985,"date":"2024-08-09T09:14:20","date_gmt":"2024-08-09T09:14:20","guid":{"rendered":"https:\/\/kinesis.money\/?p=128985"},"modified":"2024-08-09T09:14:23","modified_gmt":"2024-08-09T09:14:23","slug":"silver-perks-up-after-three-month-low","status":"publish","type":"post","link":"https:\/\/kinesis.money\/tr\/market-analysis\/silver-news\/silver-perks-up-after-three-month-low\/","title":{"rendered":"Silver Price News: Silver Perks Up After Hitting Three-Month Low"},"content":{"rendered":"\n

Silver prices made modest gains on Thursday, taking a lead from a more bullish day in the gold markets.<\/p>\n\n\n\n

Silver prices rose as high as $27.69 an ounce on Thursday, compared with around $26.60 an ounce in late trades on Wednesday.<\/p>\n\n\n\n

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

Gold prices looked more positive on Thursday, rising above $2,420 an ounce after a bearish start to the week, and this provided a supportive backdrop for silver.<\/p>\n\n\n\n

Silver\u2019s dip to as low as $26.50 an ounce on Wednesday marked a three-month low, and this may have attracted some bargain-hunting, helping to lift the market on Thursday.<\/p>\n\n\n\n

The grey metal has posted successively lower lows since May, forming a three-month bearish price channel, and leaving the market to assess where significant buy-side support will kick in. If prices do continue lower, horizontal trend line support at $26.00 an ounce may offer the next point of focus, based on the lows seen in early May.<\/p>\n\n\n\n

On the bearish side, disappointing manufacturing data around the world in recent days has cast a dark cloud over industrial demand for silver. However, on the bullish side, silver prices should benefit from widely-anticipated interest rate cuts by the US Fed in the remainder of the year, with the markets expecting a first rate cut in September, followed by more cuts before the end of December.<\/p>\n\n\n\n

And despite the short-term slow-down in manufacturing activity, a longer-term secular growth trend is expected to remain in place for industrial demand for silver which may serve to underpin prices. This is linked to a multi-year structural supply deficit and long-term expected growth in renewable and nuclear energy, as well as a need for silver in applications as diverse as defence technology, aerospace, electrical circuits, semiconductors, touch screens, batteries and energy storage, water purification systems and medical appliances.<\/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 made modest gains on Thursday, taking a lead from a more bullish day in the gold markets. Silver prices rose as high as $27.69 an ounce on Thursday, compared with around $26.60 an ounce in late trades on Wednesday. Gold prices looked more positive on Thursday, rising above $2,420 an ounce after a […]<\/p>\n","protected":false},"author":50,"featured_media":129031,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-128985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Perks Up After Hitting Three-Month Low | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Friday 9th 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=\"tr_TR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Perks Up After 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