{"id":128338,"date":"2024-07-29T09:37:22","date_gmt":"2024-07-29T09:37:22","guid":{"rendered":"https:\/\/kinesis.money\/?p=128338"},"modified":"2024-09-04T13:26:17","modified_gmt":"2024-09-04T13:26:17","slug":"silver-holds-flat-at-11-week-low","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/silver-news\/silver-holds-flat-at-11-week-low\/","title":{"rendered":"Silver Price News: Silver Holds Flat At 11-Week Low"},"content":{"rendered":"\n

Silver prices held steady on Friday, continuing to trade level with Thursday\u2019s 11-week low, as the markets waited for fresh direction.<\/p>\n\n\n\n

Silver traded in a range of $27.62 to $28.03 an ounce<\/a> for most of the day. Prices did briefly spike to $28.28 an ounce, although sustained trading at this level was not observed. That compared with Thursday\u2019s range of $27.49 to $28.92 an ounce.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Silver prices have shown a capacity to test successively lower troughs in recent weeks, as evidenced by a descending channel since highs of over $32.00 an ounce in May. Absent any fresh bullish drivers, this trend is likely to bring the $27.00 an ounce level into focus in the coming weeks, representing the lower boundary of the downward channel.<\/p>\n\n\n\n

US figures released last week painted a stronger-than-expected picture of the US economy, including GDP, consumer sentiment and inflation figures. While the latest data would normally imply a delay before interest rate cuts, the interest rate markets appeared unmoved and are fully pricing in a first rate cut by the US Fed in September, followed by two more cuts before the end of the year.<\/p>\n\n\n\n

Since the precious metals markets already anticipate this outcome, rate cuts in the autumn are unlikely to send gold and silver prices soaring. But equally, the prospect of looser monetary policy should help to underpin prices and avoid significant downside, other things being equal. Of more importance to gold will be the extent to which central banks continue to purchase volume, while silver\u2019s fortunes are partly linked to industrial demand, which has taken a knock in July in several economies.<\/p>\n\n\n\n

On the economic data front, the markets will be looking ahead to Tuesday\u2019s Euro Area GDP growth figures for Q2, as well as the US JOLTs job openings figures for June.<\/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 held steady on Friday, continuing to trade level with Thursday\u2019s 11-week low, as the markets waited for fresh direction.<\/p>\n","protected":false},"author":50,"featured_media":128368,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[91,214],"tags":[],"class_list":["post-128338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-silver-news"],"acf":[],"yoast_head":"\nSilver Holds Flat At 11-Week Low | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver news analysis for today, Monday 29th of July 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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