{"id":125115,"date":"2024-06-19T09:57:28","date_gmt":"2024-06-19T09:57:28","guid":{"rendered":"https:\/\/kinesis.money\/?p=125115"},"modified":"2024-06-19T09:57:28","modified_gmt":"2024-06-19T09:57:28","slug":"silver-awaits-china-pivot","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/silver-news\/silver-awaits-china-pivot\/","title":{"rendered":"Silver Price News: Silver awaits China\u2019s Pivot"},"content":{"rendered":"\n

Like Gold, Silver also seems to be rangebound this week, largely moving between $29.0\/toz<\/a> to $29.6\/toz, suggesting a consolidation awaiting further catalysts. However, a longer-term stance might view silver as being in a falling channel since late May, currently bound by $28.3\/toz-$30.8. Today\u2019s early trading sees silver trending back down towards $29.4\/toz.<\/p>\n\n\n\n

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

We have already noted in our gold report that interest rate indicators such as 2-Year and 10-Year US Treasuries, US Fed Funds Futures and the US Dollar have all been mildly supportive thus far this week following a big Friday move. However, with reference to recent incoming data, weak China Industrial data, weak German Economic Sentiment and weak Japan manufacturing continues to suggest slowing momentum. The significant deficit in the silver market does provide a buffer, however.<\/p>\n\n\n\n

Against this backdrop, it is interesting to note the current high premia that silver is attracting in China, which is generally indicative of particularly high physical demand. While it is possible that this is being generated by elevated investment during a period of high gold prices and a lull in central bank purchases, it is equally likely that the source of demand is industrial.<\/p>\n\n\n\n

Such a development might well foreshadow a significant change in China\u2019s economic policy which is due to be unveiled at the Chinese Communist Party\u2019s long-delayed Third Plenum (meeting) in July. Public statements by senior Chinese leadership, including President Xi, suggests that this will pivot Chinese industrial policy back towards exports with a focus on clean energy, electric vehicles, battery technology, semiconductors, computing, artificial intelligence, and robotics.<\/p>\n\n\n\n

Events in the market calendar for silver investors includes Japan Tankan (industrial) Index for June (already mentioned) and UK May inflation data and Bank of Canada minutes later today. For Thursday, a Bank of England UK interest rate decision and US Initial Jobless Claims are focal points.<\/p>\n\n\n\t\t\t

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Mike 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":"

a longer-term stance might view silver as being in a falling channel since late May, currently bound by $28.3\/toz-$30.8. Today\u2019s early trading sees silver trending back down towards $29.4\/toz.<\/p>\n","protected":false},"author":51,"featured_media":125169,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-125115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver awaits China\u2019s Pivot | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Wednesday 19th 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 property=\"og:title\" content=\"Silver awaits 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