{"id":123648,"date":"2024-05-17T08:19:07","date_gmt":"2024-05-17T08:19:07","guid":{"rendered":"https:\/\/kinesis.money\/?p=123648"},"modified":"2024-05-17T08:19:07","modified_gmt":"2024-05-17T08:19:07","slug":"silver-stable-after-reaching-11-year-high","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/silver-news\/silver-stable-after-reaching-11-year-high\/","title":{"rendered":"Silver Price News: Silver Stabilises After Reaching 11-Year High"},"content":{"rendered":"\n

Silver prices were largely range-bound on Thursday, retaining most of Wednesday\u2019s sharp gains and holding up above the $29.50 an ounce mark for most of the day.<\/p>\n\n\n\n

Prices briefly rose as high as $29.93 an ounce in overnight trading Thursday, before easing back into a range of $29.37 to $29.75 for the rest of the day.<\/p>\n\n\n\n

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

The relatively stable conditions followed a jump of over a dollar per ounce on Wednesday which took silver prices to their highest since 2013 \u2013 an 11-year high.<\/p>\n\n\n\n

The price surge came after figures showed that US inflation rose by 0.3% in April, below market expectations of a 0.4% rise. Signs that inflation may be slowing down raises the prospect of interest rate cuts in the coming months, which tend to support gold and silver prices.<\/p>\n\n\n\n

US retail sales figures released Wednesday also came in flat for April, against expectations of a 0.4% rise, adding fuel to the notion that the US Fed may need to slash rates sooner rather than later.<\/p>\n\n\n\n

Thursday\u2019s subsequent price stability for silver, and its success at staying above $29.50 an ounce, may be taken as a bullish signal, particularly if this range continues to hold as this potentially sets up prices for another attempt at the $30.00 an ounce mark.<\/p>\n\n\n\n

In that context, the markets will be closely watching for further economic data next week, with eyes on Monday\u2019s speeches by several US Fed officials for signals on the path forward for monetary policy.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience 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 were largely range-bound on Thursday, retaining most of Wednesday\u2019s sharp gains and holding up above the $29.50 an ounce mark for most of the day.<\/p>\n","protected":false},"author":50,"featured_media":123649,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-123648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Stabilises After Reaching 11-Year High | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Friday 17th of May 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=\"zh_CN\" \/>\n<meta property=\"og:type\" 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