{"id":124926,"date":"2024-06-14T08:10:32","date_gmt":"2024-06-14T08:10:32","guid":{"rendered":"https:\/\/kinesis.money\/?p=124926"},"modified":"2024-07-02T07:22:43","modified_gmt":"2024-07-02T07:22:43","slug":"silver-under-pressure-mixed-growth","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/silver-news\/silver-under-pressure-mixed-growth\/","title":{"rendered":"Silver Price News: Silver Under Pressure on Mixed Growth Message"},"content":{"rendered":"\n

Silver has continued to lose ground this week, with a particularly volatile trading session on Wednesday being followed by a one month low on Thursday. Silver enters Friday trading near these levels at $29\/toz, with near-term resistance at $29.3\/toz and $29.5\/toz and support at $28.6\/toz.<\/p>\n\n\n\n

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

While Wednesday\u2019s move by the US Federal Reserve to cut its \u2018dot plot\u2019 estimate of rate cuts from three to just one this year is an additional headwind to silver, the impact is likely to have been marginal. As noted in our gold review, both US 2-Year and 10-Year yields have actually fallen over the week and the while there has been some midweek volatility in the dollar, it is little changed since Monday.<\/p>\n\n\n\n

Moreover, as an industrial metal, the global growth outlook is also a significant silver price driver. While growth has generally exceeded expectations this year and this has itself been a source for the Fed\u2019s caution on rates than expected in 2024, more recent data has been more mixed. EU and UK industrial production disappointed this week. In contrast, a recovery in the Atlanta Fed\u2019s GDPNow nowcast suggested a healthy 3.1% US real GDP growth in the current quarter.<\/p>\n\n\n\n

The market calendar for today is quite light with only June US Michigan Consumer Sentiment and May China New Yuan Loan prints likely to be of some interest to silver investors.<\/p>\n\n\n\t\t\t

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Mike<\/a> is a market strategist and media commentator with 30 years of experience analysing precious metals markets.\u00a0\u00a0\u00a0He developed his expertise working as an investment banker in emerging markets such as South Africa, Russia and Chile. His focus on precious metals was extended through subsequent work within private wealth management and his own research consultancy.\u00a0\u00a0\u00a0During this time, he covered the gold, silver, platinum and palladium markets.<\/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.<\/em><\/p>\n

Read our Editorial Guidelines\u00a0here.<\/a><\/em><\/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 has continued to lose ground this week, with a particularly volatile trading session on Wednesday being followed by a one month low on Thursday. Silver enters Friday trading near these levels at $29\/toz, with near-term resistance at $29.3\/toz and $29.5\/toz and support at $28.6\/toz.<\/p>\n","protected":false},"author":51,"featured_media":124953,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-124926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Under Pressure on Mixed Growth Message | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Friday 14th of June 2024, from leading precious metals analyst Mike Ingram.\" \/>\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\" content=\"article\" \/>\n<meta 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